Category: Bankruptcy Updates

Lee Enterprises Refinancing to Take Effect January 30

Lee Enterprises has completed the remaining steps to enable its refinancing agreements. The agreements extend the maturities of Lee’s borrowings to December 2015 and April 2017. The plan of reorganization was confirmed by Chief U.S. Bankruptcy Judge Kevin Gross in the District of Delaware. Lee is scheduled to emerge from Chapter 11 on January 30, 2011.

Kodak Files for Chapter 11; Citigroup to Provide DIP Loan

Eastman Kodak has filed for bankruptcy protection in the U.S. Bankruptcy Court in the Southern District of New York. The company listed approximately $5.1 billion in assets and about $6.8 billion in debt. Kodak has entered an agreement with Citigroup to provide a $950 million DIP loan.