Kodak Wants More Time
Kodak has filed a request for yet another extension on the deadline for their re-organization plan outlining their exit from bankruptcy.
Currently the company is required to file a chapter 11 plan by February 15th with the US Bankruptcy Court, but they are reportedly looking to extend that deadline to April 30.
A statement from Kodak says that while the company has asked for an extension, their plan to exit bankruptcy by mid 2013 remains.
While we have asked for an extension of the date by which we must file the plan of reorganization, we still plan to emerge from bankruptcy mid-year. In fact, we are ahead of where we expected to be on some items, like the financing, which includes exit financing.
The original deadline for submission of the re-organization plan was May 18, 2012.
Kodak has received a number of extensions on that deadline, with at least one of them officially objected to by bondholders.