Kodak Proposes Equity Swap for Debt
Bloomberg reported that Kodak offered to swap its $2.7 billion of unsecured debt for shares in a new company in a reorganization plan. The article said that the plan filed in the U.S. Bankruptcy Court in New York will allow current shareholders to be wiped out while priority, secured and second lien holders will get their money back — a combined total of $424 million.
To read the entire Bloomberg story, click here.
Previously on abfjournal.com: