Beijing time on October 13 afternoon message, occupy personage of know the inside story to divulge, at present the bond of Kodak holds organic form, the subsidiary GSO Capital Partnership that includes wind to cast orgnaization Avenue Capital Group and Blackstone Group banner to fall be in urge Kodak to repay through selling its patent relevant debt, be alluded to include the relevant patent that is sold Kodak the number that has at present is video wait for patent. In addition include Fidelity Investments and P. The investment firm such as Schoenf most popular selling brooch pins eld Asset Management LP also the relevant debt of hold Kodak.
Personage of this know the inside story still points out, above mortgages bond holds the bond that hold of in the right way assures with Kodak patent asset 2 times, at present these orgnaizations are spreading out to discuss under the counter, the income fund that requirement Kodak sells asset is used at Wu of countervail repay a debt first, go among the operation that invests this company ceaseless loss again next. Suffer the effect of this message, the share price of Kodak issues defeat immediately today 12 percent.
Disclose according to pertinent information personage, two weeks in the past in, the load holder that has had a few Kodak begins with go bankrupt legal lawyer and recombined adviser to spread out to meet, exchange views how to establish committee to come dun debt. Kodak announced to will sell its July this year the partial patent of hold of this company place is combined, the basis invests the estimation of bank MDB Capital Group, the patent combination total that Kodak plans to sell may be as high as 3 billion dollar. In addition still personage of know the inside story discloses last month, at present Kodak interior still is in in balance announce to go bankrupt and the advantages and disadvantages that can sell to this company asset place is brought parts between Wu of countervail repay a debt.
The analyst sand of Cross Research of market survey orgnaization is thick · overcomes Lowes (Shannon Cross) expresses: "The load holder does not believe Kodak management layer can use the fund in the hand effectively, because this hopes Kodak is preferential,repay debt expenses. They think the meaning that conveys to Kodak is very clear: Namely we had not counted on you to be able to take these cash to earn more money. Namely we had not counted on you to be able to take these cash to earn more money..
Kodak is deep-set debt disturbance
Kodak spokesman Jielade Muhena (Gerard Meuchner) expresses, at present patent combination has not do business, the fund that how because discuss this now,uses this income is vogue early. He a statement that at the same time cite Kodak will publish on September 30, emphasize this company complete " without intent " application goes bankrupt protection.
According to know the inside story nevertheless the personage discloses, so far, each hold mortgages bond orgnaization has not organize load holder committee 2 times, at the same time these load holders also were not communicated with Kodak directly in order to clarify their angst. Generally speaking, if each load holders organized load holder committee, meant these load holders to canon ef 15mm had been been full of to the bond in its hand anxious, ask to have formal negotiation and negotiation with indebted enterprise.
Meanwhile, the · of Paul of couplet seat chairman that the insolvency of Andrews Kurth LLP of office of new York attorney and business recombine a branch repairs Waersitan (Paul Si the best selling memory laptop toshiba lverstein) points out, had had " quite amount " Kodak is not had assure the holder of bond been undertakinging arrange with with this company, with striving for themselves the right among patent act sells in Kodak.
And of Kodak other much home creditor rejects to publish a comment to this incident. Among them one of creditor in Fidelity hand at the same time the 2 guaranty bond of hold Kodak and without assure bond.
"Cash shedding helps money "
Occupy personage of know the inside story to divulge, at present orgnaization of each old bond hold prepares to decide to whether establish load holder committee again after Novem free brooch pins ber 3, this will depend on the money of season of the 3rd money that Kodak announced that day signs up for a circumstance. Whether do the pension plan that at present each circumstance that big load holder hopes to obtain more to flow about Kodak cash, Kodak is in Europe and its supplier have constrictive terms of payment to wait. Kodak is already successive 3 years of deficit, at present this company is trying to become a number to presswork through transition and into come like the company make up the deficits and get surpluses.
Keluosi points out, because hold mortgages the orgnaization of bond has the patent of Kodak to serve as guaranty at the same time 2 times, accordingly they or will move to prevent Kodak to be opposite of relevant patent sell, in order to prevent Kodak general gain " cash shedding helps money " the movement that is used at supporting this company oneself.
The patent purchaser with potential part had raised vigilance to this circumstance. Because once Kodak already endowment not pay a debt in kind or by labour, so buy relevant patent combination to form so called con sex likely to make over. Kodak will state on September 30 this company had invited Jones De easy (office of Jones Day) attorney recombines adviser as its.
Discuss the way to deal with a situation with adviser
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The analyst of CRT Capital Group LLC of market survey firm Amoer Diwana (Amer Tiwana) expresses: "The patent of Kodak is going bankrupt probably sell on the court give a good price, other of course and relevant property price also is met for certain very pretty good. But if if these patent are to going bankrupt,undertaking selling besides the court, can be regarded as con sex likely to make over patent so, and the load holder has the right to initiate lawsuit to this one behavior. And the load holder has the right to initiate lawsuit to this one behavior..
The debt before this recombines service company Moelis&The financial adviser of Co, Houlihan Lokey and Rothschild had held organic compose to discuss their option plan with each bond. And the 2 guaranty load holder of Kodak also had spread out close communication with the lawyer of each big attorney office.
Occupy personage of know the inside story additionally to divulge, once free scooby costume 10 gross hold exceed value last week 200 million dollar mortgages 2 times the orgnaization of bond once with Kelaimo Liwen (office of Kramer Levin) attorney had telephone meeting, answer the program of Kodak debt problem in order to discuss. This work place will be backward each orgnaization extended written letter, the hope can win enough support in ord memory card digital cameras er to establish load holder committee.
Cash flows or break archives
And office of Kelaimo Liwen's attorney pointed out recently, always share about 20 at present in all hold overbalance the orgnaization of 2 guaranty bond and this attorney office obtained Kodak of 350 million dollar to contact. And disclose according to personage of know the inside story, on current market, kodak shares value to make an appointment with the 2 guaranty bon most popular selling scooby costume d of 750 million dollar. But the spokesman of this office expresses to decline a comment to this message.
These hold mortgage the orgnaization of bond still owns the mortgage that includes the capital fund such as patent combination 2 times, this means bond place in the right way to will authority prevents the selling of relevant asset, perhaps can undertake prosecution to selling behavior.
Diwana points out: "Once buy the home potentially,dare not going bankrupt if these patent are being bought besides the court, the cash reserve in a bank that can cause Kodak directly flows archives. This will bring the disaster that everybody is not willing to see. If Kodak cannot sell patent smoothly, cannot offer the word of other asset again at the same time, so the cash of this company flows very will fast occurrence shortage, bring about Kodak then the trend is downfallen. Bring about Kodak then the trend is downfallen..
The CEO Peng Andong of Kodak (Antonio Perez) begins in control of from 2005 this company power, be in inside adjust the business centre of gravity of Kodak to print Wu, the intent is heavy brace up the gain of this company. Peng Andong still announced to will sell this company exceeds 1100 patent combination in July this year, include partial picture processing, editor and the patent that store among them.
Offer patent combination
The United States invests orgnaization Lazard Ltd to will sell for Kodak relevant patent combination provides advisory service, this orgnaization once still had helped manufacturer of Canadian telegraphic equipment before this company of wind of boreal electrified wire netting (Nortel Networks Corp) sold about 6000 patent in its hand those who include an apple inside buy industry group.
According to the year of Kodak the report shows, the annuities inside this company United States and global limits plans to be by 2010 the gap that still is put in more than 1.21 billion dollar, than 2009 the 1.11 billion dollar of the corresponding period rose 100 million dollar. And at present Kodak is in the gap amount of the old-age pension that includes retiree and respect of other and relevant welfare has been as high as 2.66 billion dollar.
Kodak spokesman Muhena points out, up to on July 30, 2011, kodak still hold the cash of 957 million dollar. In addition, up to 2010 the end of the year, the cash of Kodak has 1/3 to deposit in American mainland, and additionally 2/3 spread all over the whole world.
Kodak business " continuously fatigued and weak "
At present the best selling t mobile prepaid cards standard general Er (Standard&Poor ' S) is CCC to the debt grade of Kodak, and Moody investor serves a company (Moody"s Investors Service) is right the debt grade of Kodak is Caa2. These two kinds of grade are far the debt grade under investment grade business. Company of Moody investor service will be moved again on September 27 this year low the grade of Kodak bond, because the enterprise of Kodak is run,express " continuously fatigued and weak " , do not eliminate future farther key is low the possibility of its grade. And the market prise with current Kodak and the photograph of summit summit hour 1997 exceed 30 billion dollar than dropping.
The share price of Kodak had dropped since this year 77 percent, up to local time yesterday afternoon at 4 o'clock, this company deals in new York negotiable securities the share price on the market dropped again 17 cent come 1.24 dollars. (Lin Jing)
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