Eastman Kodak Co. won bankruptcy-court approval of a crucial request that will help it stay on track to exit chapter 11 protection in September, Dow Jones Newswires reported on Friday. Bankruptcy Judge Allan L. Gropper on Thursday agreed to extend, through Sept. 19, the time in which Kodak may solicit creditors’ votes for its restructuring plan, court papers show. Without the extension, Kodak would have faced a July 31 deadline to do so—weeks before it is scheduled to seek court approval of the plan itself. Creditors eligible to vote currently face an Aug. 9 deadline to cast their ballots, and the bankruptcy court will consider approving the plan at an Aug. 20 hearing. Kodak hopes to exit Chapter 11 in mid- to late-September.
