Kodak bankruptcy reorganization approved by judge

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NEW YORK — Kodak Co. earned court approval on Tuesday for a plan to emerge from bankruptcy as a much smaller digital-imaging company, according to the Associated Press.

Kodak doesn’t look like it did when it filed for bankruptcy protection last year, but its executives and investors are hoping for a picture-perfect future.

Many of its products are gone, including the camera-making business that made it famous more than a century ago. Workers, manufacturing facilities, supply contracts and investments are also gone.

On Tuesday, U.S. Bankruptcy Judge Allan Gropper approved the company’s plan to emerge from court oversight, paving the way for it to recreate itself as a new, much smaller company focused on commercial and packaging printing.

Kodak said it hopes to emerge from bankruptcy protection as early as Sept. 3.

Read more: Associated Press

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