EKRA Files Motion Against Kodak For Unfunded Pensions

Published 05/01 2013 12:37PM

Updated 07/19 2013 01:31PM

The organizations that represents Kodak's retirees has filed a motion against the company that would affect retirees with unfunded pensions.

EKRA says that Kodak's emergence plan is a positive step that means there will be a company and therefore a continuations of pensions for retirees. But there are 1,100 retirees whose pensions stopped when Kodak originally filed for bankruptcy. Now that group is part of the unsecured creditors. EKRA wants a committee to represent them to make sure the company has valued their pensions fairly. In light of the emergence plan, this group will also likely be receiving stock instead of cash for those pensions.

"I think the initial emotional reaction of most people is what is the stock going to be, is it going to be worth anything? That is to be determined," EKRA president Art Roberts said.

EKRA will take this motion to court on May 29th.

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