In re Eastman Kodak Co.
United States Bankruptcy Court for the Southern District of New York
No. 12-10202 (2012)
- Written by Steven Pacht, JD
Facts
The Eastman Kodak Company (Kodak) (debtor) sought court permission to enter into debtor-in-possession (DIP) financing. The proposed agreement called for a roll-up. That is, Kodak was required to use a portion of the proceeds of the DIP financing to fully pay back certain of Kodak’s unsecured, prebankruptcy-petition debts, which would cause such debts to be satisfied and released. Kodak also was required to make satisfactory payment arrangements with certain prepetition creditors. Moreover, prepetition obligations that Kodak assumed postpetition were to be deemed to be issued pursuant to and secured by the DIP financing.
Rule of Law
Issue
Holding and Reasoning (Gropper, J.)
What to do next…
Here's why 834,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 46,600 briefs, keyed to 994 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.