Photography pioneer Eastman Kodak has cleared the last two hurdles to ending its bankruptcy in one leap, with an agreement to sell its remaining non-core businesses to its British pension fund for US$650 million (HK$5.05 billion).
The pension plan also agreed to give up a US$2.8 billion (HK$21.73 billion) claim against Kodak, resolving the largest unsecured claim against the company.
The agreement is subject to approval by the US Bankruptcy Court in Manhattan.
via Business feed http://www.scmp.com/business/companies/article/1226564/kodak-nears-bankruptcy-end-2-1-uk-pension-deal
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