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American photography company Eastman Kodak (“Kodak”) has filed for Chapter 11 Bankruptcy Protection in America last month, in a move to reorganise and raise much needed ‘cash’ to get it out of its significant debt.

The company, who had hoped to make billions from a digital patent, were unable to sustain the growth of modern technology at the same time.

The good news for Kodak Australia – it is business as usual.

Chairman and chief executive of Kodak, Mr Antonio M Perez, said in an interview this week with the Wall Street Journal,  “the bankruptcy protection would enable Kodak to continue to work to maximise the value of its technology assets, such as digital-imaging patents it licences for use in mobile and other devices and its printing technology”.

Of recent times, the photographer giant has been pushing the company more in the direction of printers, rather than the digital camera, which it allegedly invented.

If you would like any advice surrounding asset and income protection or bankruptcy advice, please contact an Attwood Marshall Lawyer today on 1800 621 071 or email info@attwoodmarshall.com.au.

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Charles Lethbridge

Charles Lethbridge

  • Senior Associate
  • Commercial Litigation
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