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Kodak emerges from Chapter 11 bankruptcy

Posted on Thursday, September 12th, 2013 at 6:19 pm    

After it going through the bankruptcy process for almost two years, photography and imaging company Kodak will exit bankruptcy on Thursday, September 5, according to a report from USA Today. The bankruptcy court approved Kodak’s Chapter 11 bankruptcy on August 20.

The company will no longer be overseen by the U.S. Bankruptcy Court or have matters handled by the U.S. Trustee.

As Kodak emerges from Chapter 11 bankruptcy, nine persons will be assigned to its board. The company’s spokesperson Christopher Veronda also said a new trading symbol will be used by Kodak as it gets its stocks on a major stock exchange.

Kodak filed for Chapter 11 bankruptcy in January 2012 after it loses money due to the fall of film.

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