The Daily Docket: Kodak Seeks Court Approval of U.K. Pension Deal

Eastman Kodak Co. is seeking court permission to enter into a deal with its U.K. pension plan, an “unprecedented” settlement that lies at the heart of its reorganization proposal. Read the Daily Bankruptcy Review story here. A decades-old whistleblower lawsuit that prompted Congress to change the law intended to expose corporate fraud on the government is still haunting the remnants of the old General Motors—and is holding up the distribution of $50 million to the bankruptcy estate’s creditors. Read the DBR story in The Wall Street Journal. Standard & Poor’s Ratings Services placed its ratings on Ally Financial Inc. on watch for a possible upgrade, after the government-controlled auto lender entered into a plan-support agreement with its troubled mortgage subsidiary Residential Capital and the unit’s influential creditors, WSJ reports. Read the rest at http://blogs.wsj.com/bankruptcy/2013/05/17/the-daily-docket-kodak-seeks-court-approval-of-u-k-pension-deal/