Court approves Kodak settlement of claims with U.K. Pension Plan

Eastman Kodak announced that the U.S. Bankruptcy Court for the Southern District of New York approved Kodak’s previously announced comprehensive settlement agreement with the U.K. Kodak Pension Plan, the company’s largest single creditor with respect to its Chapter 11 Plan of Reorganization. In approving the agreement, the Court described it as “a critical step forward in Kodak’s effort to consummate its Plan of Reorganization.” With the agreement, announced on April 29, Kodak’s Personalized Imaging and Document Imaging businesses will be spun off under the ownership of KPP.