Kodak Refinancing Plan Approved By Court, Could Allow Company To Emerge From Bankruptcy

ROCHESTER, N.Y. (AP) -- Eastman Kodak Co. said Wednesday that it has received court approval to borrow up to $844 million to finance the rest of its restructuring. The company wants to emerge from bankruptcy protection in the middle of the year. The financing agreement, along with the recently approved sale and licensing of its digital imaging patents, sets the stage for Kodak to emerge as a "profitable and sustainable company," said CEO Antonio Perez. The financing deal was contingent on the co...