Kodak’s Bankruptcy Exit Plan Approved By Judge

“Kodak is a different company than the one in the popular imagination and very different from the one that filed for bankruptcy,” Kodak attorney Andrew Dietderich told the court at the start of Tuesday’s hearing.

In making his ruling, Gropper noted that his approval of the plan will result in the loss of retirement and health care benefits for many former workers, while many of the company’s investors will recoup just pennies on the dollar.

“So at a time of admitted tragedy, let us take a moment to dwell on the future and hope that Kodak will be successful,” Gropper said.

Kodak Chairman and CEO Antonio Perez said that with the ruling, the company is now poised to become a leader in the commercial imaging industry, providing professional services such as commercial printing, packaging and film for motion pictures.

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