Creditors vote in favor of Kodak's reorganization plan

Posted at: 08/15/2013 8:01 PM

Eastman Kodak says its creditors have voted in favor of its reorganization plan. CEO Antonio Perez calls this a significant endorsement.

In court filings, Kodak says all classes of eligible creditors voted strongly in favor of it. Perez says this allows the company to move toward emerging from Chapter 11 restructuring with their support.

Kodak says it's still on track to do that, sometime in the third quarter.

There is a confirmation hearing on the reorganization plan scheduled for Tuesday morning in U.S. Bankruptcy Court.