Announcements
Sept. 04, 2013

Kramer Levin Represents Backstoppers in Connection With Eastman Kodak's Emergence from Bankruptcy

On September 3, 2013, Eastman Kodak Company’s plan of reorganization went effective and the company emerged from Chapter 11 as a reorganized company. Kramer Levin played an integral role in the case, representing several large holders of Kodak’s unsecured debt that served as backstop commitment parties in connection with the company’s $406 million equity rights offering. The rights offering, which served as the cornerstone of Kodak’s plan of reorganization, enhanced recoveries of unsecured creditors and helped facilitate the confirmation process. The rights offering was effectuated through a plan of reorganization confirmed by the Bankruptcy Court for the Southern District of New York on August 23, 2013 and was consummated upon Kodak’s exit from bankruptcy on September 3, 2013. The Kramer Levin team on this matter includes John Bessonette, Abbe L. Dienstag and Jodi Rosensaft of the Corporate Department and Thomas Moers Mayer, Jennifer Sharret and Jason S. Rappaport of the firm's Corporate Restructuring and Bankruptcy department.

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