Rochester, N.Y. – Kodak has announced that they've officially emerged from Chapter 11 bankruptcy. Chairman and CEO Antonio Perez says “Kodak has emerged as a technology company serving imaging for business markets: including packaging, functional printing, graphic communications and professional services.”
The revamped imaging company has filed the necessary notices about their plan with the U.S. bankruptcy court.
All previously issued and outstanding shares of Kodak stock have been cancelled, as were other previously issued and outstanding equity interests. Kodak has already begun to issue some of the company’s new shares. The new stock given to unsecured creditors as provided in the reorganization plan will be dispersed by the end of September.