Kodak announced the company and its U.S. subsidiaries have filed voluntary petitions for chapter 11 business reorganization in the U.S. Bankruptcy Court for the Southern District of New York. The company's news release says, "The business reorganization is intended to bolster liquidity in the U.S. and abroad, monetize non-strategic intellectual property, fairly resolve legacy liabilities, and enable the Company to focus on its most valuable business lines." Kodak subsidiaries outside the United States are not affected. The company says it has lined up sufficient working capital and intends to conduct business as close to normally as possible. more
