Bankruptcy Judge Allan Gropper yesterday rejected a bid by Eastman Kodak Co. shareholders to set up an official committee to represent their interests, as the company prepares to seek court approval next Tuesday to emerge from chapter 11, Reuters reported yesterday. Judge Gropper said that there was no evidence that Kodak or its creditors were "hiding value" from shareholders, who would lose their investments under the proposed reorganization. He also said the costs of setting up a committee, which like Kodak's unsecured creditors' committee would have negotiating powers, are "unreasonable" in light of the possible benefits.
