Eastman Kodak Co. said yesterday that it expects to emerge from bankruptcy as soon as July as a commercial imaging business under the control of its creditors, Reuters reported yesterday. The company said in court documents that it expects to issue new stock with the majority of it going to its second-lien note holders. The holders of the second-lien notes include investment funds P. Schoenfeld Asset Management, D.E. Shaw Group and Bennett Management Corp. A new board will be appointed and the company said the new directors will be identified later. The company did not say how much it expects to pay its unsecured creditors, who are owed as much as $2.2 billion, but they would also receive some shares in the reconstituted Kodak.
