Kodak retiree committee seeks court clarification of its role in case

By Jim Witters

Wilmington, Del., June 22 - Eastman Kodak Co.'s retiree committee is seeking clarification of its role in the bankruptcy case, stating that the cap placed on its expenses limits is participation to that of a monitor, according to documents filed June 22 with the U.S. Bankruptcy Court for the Southern District of New York.

"The retiree committee submits this clarification motion to ensure that the statutory rights, powers, and duties of the retiree committee are not inappropriately limited. As the authorized representative of as many as 56,000 retired employees, long-term disability recipients, survivors and dependents, for whom the debtors have an estimated consolidated balance sheet liability of over $1 billion, the retiree committee represents one of the debtors' largest constituencies and has a substantial and material interest in seeing a successful reorganization of the debtors' businesses," the motion states.

The committee has concluded that it cannot "fulfill its duties and obligations" under the bankruptcy code under the terms of the court's existing order.

The order "limits the duties of the retiree committee, initially, to 'monitoring' these cases. The retiree committee needs to have the unfettered ability to represent and protect its constituency, not just 'monitor.' These cases clearly warrant the full extent of these statutorily provided powers and duties," the committee said.

The limit the court placed on the committee's professional fees "will make it impossible for the retiree committee to receive adequate representation, given the magnitude of these cases," the motion states.

The committee is seeking clarification that the court's order does not limit the scope of the committee's duties and removal of the fee cap "to ensure that the retiree committee is fully able to satisfy its duties and obligations."

A hearing on the motion is scheduled for 11 a.m. ET on July 18.

Kodak is a Rochester, N.Y.-based imaging technology products and services provider to the photographic and graphic communications markets. The company filed for bankruptcy on Jan. 19. Its Chapter 11 case number is 12-10202.

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