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Reimbursements requests for Kodak bankruptcy work at $28.4M

By WILL ASTOR - 6/21/2012 3:43:11 PM

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.      

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