Frequently Asked Questions for Suppliers of Non-U.S. Entities
What does the Chapter 11 announcement mean for me?
Kodak's non-U.S. subsidiaries are not included in the filings and will continue to operate as usual. Another way to say this is that Kodak's reorganization does not affect vendors and suppliers to Kodak's non-U.S. subsidiaries. As a result, our expectation is that today's action will not have any impact on commercial relationships with Kodak operations based outside of the U.S. Kodak's non-US entities will continue to pay all invoices on time, and meet all contractual obligations.
I am a U.S. supplier that just ships to foreign Kodak entities. Will I be paid?
Yes. Payment for what you supply to Kodak's non-U.S. entities will continue as normal. Non-U.S. subsidiaries are not subject to proceedings and will honor all obligations to suppliers, whenever incurred.
I am a supplier to both U.S. and non-U.S. Kodak entities. What does this filing mean for me?
Payment for what you supply to Kodak's non-U.S. entities will continue as normal. Non-U.S. subsidiaries are not subject to proceedings and will honor all obligations to suppliers, whenever incurred.
Payment for what you supply to Kodak's U.S. entities will be handed as follows:
- If the supplies were received after the filing, they will be paid in the normal course.
- If the supplies were received before the filing, you will need to file a claim that will be settled as part of the Company's Plan of Reorganization.
I am a foreign vendor that ships to U.S. entities. Will I be paid for goods and services provided to Kodak before the filing date?
Foreign vendors to U.S. businesses are bound by U.S. bankruptcy law. If vendors have not received payment for services or goods Kodak received prior to the filing, we cannot make the related payment without specific authorization from the Bankruptcy Court.
How does Chapter 11 in the U.S. work?
Chapter 11 does not mean that Kodak is going out of business. A U.S. Chapter 11 proceeding is different from bankruptcy in most other countries. Unlike those proceedings which are liquidations, U.S. Chapter 11 is a mechanism that generally focuses on the preservation and reorganization of ongoing operating companies. The process will allow us to continue normal business operations while we restructure our debt, costs, and other obligations, and gives us much more flexibility to address these matters while preserving the fundamental value of our business and operations.
How can I learn more about the situation?
Additional information about the Kodak reorganization process, including Frequently Asked Questions for Suppliers, is available at www.kodaktransforms.com.