Kodak retirees seek court opinion on rules for benefits modification

By Jim Witters

Wilmington, Del., July 10 - The official committee of retired employees of Eastman Kodak Co. is seeking a declaratory judgment on whether sections of the bankruptcy code impose "substantive and procedural requirements" as the company seeks to modify retiree benefits, according to documents filed July 9 with the U.S. Bankruptcy Court for the Southern District of New York.

Kodak sought to terminate non-vested Medicare enhancement benefits for those who retired after 1991. The company asserted in its motion - since withdrawn - that some sections of the bankruptcy code do not apply to benefit modifications for at least some retirees.

The retiree committee contends that the procedural and substantive protections apply to all retirees. The committee is seeking the court's opinion, in case Kodak attempts to modify benefits as the case moves forward.

The committee represents about 56,000 retirees, recipients of long-term disability benefits, dependents and survivors.

No hearing on the issue has been scheduled.

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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