Eastman Kodak distance exit bankruptcy protection further

Summary: Eastman Kodak distance exit bankruptcy protection further. The framework of the company reorganization plan was approved by US bankruptcy Judge 25th. Sources say Kodak has received 895 million of dollars in funding from JPMorgan Chase, Bank of America and Barclays Bank. Kodak will use

Eastman Kodak distance out of bankruptcy protection further. The framework of the company reorganization plan was approved by US bankruptcy Judge 25th. Sources say Kodak has received 895 million of dollars in funding from JPMorgan Chase, Bank of America and Barclays Bank. Kodak will use the funds to pay for the loans that led to its bankruptcy, and will also be used for operating capital expected to emerge from bankruptcy protection later this year.

Last January, the 131-year-old image giant, Eastman Kodak, announced an application for bankruptcy protection. Under the United States Bankruptcy Act, during which the company is still operational and creditors are not required to impose debt. But all major business decisions of the company must be approved by the bankruptcy court.