Kodak: you can see the light at the end of the tunnel

"Kodak seems to have found a better buyer for its division of Brother Personalized Imaging and Document Imaging: a spin off entrusted to Kodak Pension Plan should settle the debt of $ 2.8 billion against the latter"

Kodak continues its moves to get out of the bankruptcy and it seems to have reached an agreement with its largest creditor, the Kodak UK pension fund Pension Plan (KPP), with whom he is in debt to a figure of about 2.8 billion dollars. The agreement provides for the spin-off of the division Personalized Imaging and Document Imaging (which affects such as scanners) under the aegis of KPP, with an assessment of the operation of approximately 650 million dollars. The move, which closes a dispute very heavy from the economic point of view, it should give the necessary push to Kodak to free itself controlled by the bankruptcy of Chapter 11 of the U.S. bankruptcy law and finally allow Kodak to go back to being a company in health.

If approved by the court the agreement would take precedence over the sale of the business unit Document Imaging Brother : there will be no legal repercussions for Kodak for non-finalization of the agreement with Brother as a clause clearly reported the possibility of Kodak to find solutions more advantageous in a certain period of time, which actually took place. If you received the approval of the bankruptcy court the new agreement could represent for Kodak light at the end of the tunnel, the tunnel from which the company will emerge much lower than that of colossus that was two years ago.