That is only 44 days from today. If you exclude weekends and holidays, it comes down to only 30 business days left. The Judge has left it open to extend the time but with the amount of Administration Expenses and potential claims settlement, there is not much time left on the clock.
This coming Friday January 18, 2013 is an important day for EK exiting BK. The Court Session is sealed but if an agreement is reached this may go a Long way.
The Shorts are taking EK down because they see their time is Short.
From the docs:
Pursuant to section 1121(d) of the Bankruptcy Code, the Exclusive Filing Period is hereby extended through and including February 28, 2013, and the Exclusive Solicitation Period is hereby extended through and including April 30, 2013.
Kodak Seeks More Time to File Plan to Exit Bankruptcy
"The beleaguered photography company is asking the court to give it until May 31 to file a bankruptcy-exit proposal without threat from competing plans and until July 31 to seek support for the plan."
May 31 is the POR deadline contingent to the newly-approved exit financing. And July 31 is the POR deadline of the 18-month exclusivity for Kodak.
The unsecured bonds are forming a HTF, if such a pattern exists for bond trading.
There may have been some wording the in docs re extending the Filing Period but Judge Gropper has not agreed to extend beyond February 28, 2013.
That is only 21 business days from now. There are a lot of pressure to get everyone to come to a head but this seems the only way to get this resolved.
Yesterday's press release re loans & exchange notes had a closing date of February 28, 2013 which is the same as the POR. Judge Gropper is standing by this extension and all must comply to that date.
That is only 23 business days for all to get ready for. That is not much time available for many.
EK plan to issue the POR by February 28, 2013 and that is only 25 business days from today. Judging from the press release the DI & PI units are on hold right now until the UK pension is dealt with.
Looks like September 30, 2013, is the time line to exit BK.
"... This coming Friday January 18, 2013 is an important day for EK exiting BK. ..."
Wow. Wasn't it January 19, 2012 when EK filed for BK? I remember, AP babbled about two parties fiercely contesting for the DC/KISS patents way into the night of January 18 - but in the middle of the night, he finally made the decision to file for BK to get even a better deal ... a strategic gambit, as "Pro" called it ... the day after, "Pro's" lemmings, who now gather on SBG's pumpster board, got so excited that they referred to the BK filing as a godsend ... Amen.
Since then AP came in with 1/5th of the patent value he expected; shut down consumer inkjet which cost him probably $1 Billion in subsidies; was forced to sell two more business units; and as a result is left with a product portfolio that for the most part addresses a declining market.
I guess, Perez and Quatela will celebrate their gambit way into Saturday, and might even want to have a raise that Kodak is doing so well in BK ... as AP described it in his latest YouTube video.
EK just got their funds from the sale of the patents,$527M, which will be applied to the DIP.
Judge Gropper has not budged from February 28, 2013 as the filing date for the POR.
Let the Shorts figure this out.
it comes down to 30 days....now its 28 days left. Judge Gropper is no budging and you can check the docs.
February 28 2013, he expects the parties to come to decision on how EK will exit BK.
Its coming kid
lol yu so stoopid drug_jjunkie..yu keep saying dates and no ting happens yu stoopid. shot up yur stoopid mouth yu stoopid yu no no watt yu tawk about lol yu so dumb no won beleeve yu no mor. no won short we tall lol yu stoopid! kodak keep stending dates no good yu stoopid dat meens sumting bad happen stoopid lol judge work for bank not yu stoopid lol
Sentiment: SBG, CSWIFT runs a C-ommunist Club Site, DRV is none other than PRO...LOL