Kodak bankruptcy hearing results

Posted at: 06/25/2013 6:46 AM
Updated at: 06/25/2013 10:53 PM

Kodak was back in bankruptcy court in New York City on Tuesday.

Kodak says the court determined that its disclosure statement has enough to allow creditors to vote on its reorganization plan to get the company out of bankruptcy.

Kodak says it will begin that voting process.

The company also says it received approval of a "backstop agreement" and rights offering, as well as one on exit financing with three financial institutions.

CEO Antonio Perez says that combination allows Kodak to repay secured creditors and gives the company a strong and stable capital structure, among other things.