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Reimbursements requests for work on Kodak bankruptcy total $28.4 million

Rochester Business Journal
June 21, 2012

Fee and expense requests submitted this week for legal and accounting work done for Eastman Kodak Co. in the former camera giant’s bankruptcy total $28.4 million.

Bankruptcy Court Judge Allen Groper is slated to consider reimbursement requests submitted this week by 14 law and accounting firms working for Kodak in its Chapter 11 at a July 18 hearing.  The fee applications cover billings for work done between the Jan. 19 filing date of Kodak’s bankruptcy petition and April 30.

The largest single request—$10.9 million in fees and some $167,000 in expenses—comes from Sullivan & Cromwell LLP, the New York City firm serving as Kodak’s chief bankruptcy counsel.

In a separate development, Kodak on Wednesday filed a motion seeking to disallow $9.1 million in unsecured vendor claims.

Submitted for so-called administrative expenses, the claims Kodak wants to scrub fall under section 503(b) (9) of the Bankruptcy Code, a provision that puts claims for goods shipped in the 20 days prior to a debtor’s bankruptcy filing first in line for payment.

In papers filed June 20, Kodak seeks to disallow a grab bag of 503(b) (9) claims, contending that they are either duplicates of earlier claims, were not timely filed or were additions to previously submitted claims.      

(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.


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