Kodak: Court approves agreements to extend Schoeller supply contracts

By Lisa Kerner

Charlotte, N.C., Sept. 19 - Agreements among Eastman Kodak Co., some of its affiliates, Felix Schoeller North America, Inc. and Schoeller Technocell GmbH & Co. KG were approved, according to documents filed Sept. 19 with the U.S. Bankruptcy Court for the Southern District of New York.

The agreements provide for the extension and amendment of some existing supply contracts, resolve claims arising prior to and following the petition date and allow for mutual releases of claims.

As previously reported, the debtors and Schoeller are parties to various executory contracts that expire on Dec. 31, 2012, under which Schoeller manufactures and provides to Kodak goods and related services, including but not limited to resin-coated photographic base paper (support) for light-sensitive emulsion or inkjet coating, thermal-sensitive film-laminated papers for use as image receptor, inkjet printable papers in master-rolls form or packaged for retail sale and electrostatic printable papers.

Schoeller is Kodak's sole supplier of a number of critical raw materials utilized in its businesses, according to a prior court filing.

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, 2012. Its Chapter 11 case number is 12-10202.

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