The Daily Docket: Kodak Exit Plan Approved

Eastman Kodak Co. was cleared Tuesday to emerge from bankruptcy court, putting a bookend on an American riches to rags story while heralding a new period of uncertainty for the much shrunken company and its thousands of retirees. Read the Daily Bankruptcy Review article via The Wall Street Journal.

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Orchard Supply Hardware Stores on Tuesday won bankruptcy-court approval to sell its West Coast chain of hardware and garden stores to Lowe's Cos. for $205 million. Read the DBR article via Nasdaq.

According to Reuters, the bankruptcy court approved a labor deal between Patriot Coal Corp. and its miners.

Law professor Stephen Lubben writes via DealBook about Detroit’s bankruptcy eligibility.

According to WSJ, the Consumer Financial Protection Bureau sued debt-relief firm Morgan Drexen Inc. for allegedly charging illegal fees and misleading customers.

Ally Financial is starting to repay bailout money and starting to buy back its preferred stock, WSJ reports.

Personal Communications Devices LLC and an affiliate filed for Chapter 11 bankruptcy late Monday night with a proposal in place to sell itself to Quality One Wireless LLC for $105.3 million, subject to higher bids. The DBR article is available via Nasdaq.

German property company IVG Immobilien AG is looking to reorganize $4.3 billion in debt, Bloomberg reports.

The Am Law Daily has more on the appointment of an examiner in the Detroit bankruptcy.

The New York Times discusses when lenders aren’t paid back in bankruptcy and how creditors are treated.

Irish businessman Sean Dunne’s bankruptcy trustee Richard Coan accused Mr. Dunne of “stonewalling” Mr. Coan’s efforts to get information, the Irish Times reports.

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa.