Court Gives Kodak Approval To Leave Bankruptcy

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Court Gives Kodak Approval To Leave Bankruptcy

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Court Gives Kodak Approval To Leave Bankruptcy

Wochit 0:55 mins

The Eastman Kodak Company, once a mighty photography pioneer, received court approval on Tuesday for its plan to emerge from bankruptcy as a much smaller digital imaging company. Days after BlackBerry announced it was for sale, some people suggested that the beleaguered phone maker sell its patent portfolio to avoid going into the red. While BlackBerry's smartphones sales have been tepid at best, the company still has a healthy portfolio of 130 encryption patents. Detroit's school system got a tough lesson from America's $3.7 trillion municipal bond market when investors demanded and obtained sky-high interest rates on debt issued just a month after the city filed the nation's biggest-ever municipal bankruptcy case.

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