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Displaying items by tag: Citibank

Kodak Files for Bankruptcy

06 February 2012
Published in Industry News

Unable to sell off some of its 1,100 patents to stay out of debt, Eastman Kodak Co. is preparing for a Chapter 11 bankruptcy-protection filing. If successful, Kodak will have sold 10 percent of the company's patent portfolio, and will have potentially generated $3 billion in sales.

Currently, Kodak has obtained $950 million in financing from Citibank to maintain operations, which will allow the company to...