Eastman Kodak Company and 15 associated debtorsFN1 (the “Debtors”) filed voluntary petitions under Chapter 11 of the Bankruptcy Code on January 19, 2012 in the Bankruptcy Court for the Southern District of New York (Case No. 12-10202). The Honorable Allan L. Gropper has been assigned to the case. This initial note provides the Debtors’ consolidated list of their 50 largest unsecured creditors.
First day motions and other filings are available on the site for the Eastman Kodak Company bankruptcy being maintained by the claims agent, Kurtzman Carson Consultants.
The Debtors' Consolidated List of Holders of Largest Unsecured Claims
The Debtors' have requested authority to file a consolidated list of the holders of the Debtors' largest unsecured claims in lieu of a separate list for each of the Debtors. The consolidated list is set forth below.
| Listed | Creditor Name | Nature of Claim | Status | Amount |
|---|---|---|---|---|
| 01 | The Bank of New York Mellon, as Indenture Trustee ATTN:: Corporate Trust Administration 101 Barclay Street, 8W New York, NY 10286 | Unsecured Notes (2017 Sr. Unsecured Convertibles - 7.00%) | $406,066,667 | |
| 02 | The Bank of New York Mellon as Indenture Trustee ATTN: Corporate Trust Administration 101 Barclay Street, 8W New York, NY 10286 | Unsecured Notes (2013 Sr. Unsecured Notes - 7.25%) | $252,416,667 | |
| 03 | AOF IMAGING TECHNOLOGY (USA) INC. ATTN: Albert Lin - VP 2/F., Continental Electric Building, No. 17 Wang Chiu Road Kowloon Bay, Kowloon Hong Kong | Trade Debt | $31,187,577 | |
| 04 | ATLC, Ltd. ATTN: Ed Andre 100 Rialto Place, Suite 950 Melbourne, FL 32901 Tel: (321) 725-9605 Fax: (321) 725-1527 Rumberger, Kirk & Caldwell, P.A. ATTN: David C. Willis, Esquire 300 S. Orange Ave., Suite 1400 (32801) P.O. Box 1873 | Settlement Agreement and Release | $26,400,000 | |
| 05 | CAL-COMP OPTICAL ELECTRONICS ATTN: Nova Chen - Director CP2 Div., Computer Peripherals BU 147, Section 3, Beishen Rd. Shenkeng Shiang, Taipei Taiwan 222, R.O.C. | $23,687,280 | ||
| 06 | ALTEK CORPORATION ATTN: Jason Lin - VP 3F, No. 10, Li-Hsin Road Science-Based Industrial Park, Hsinchu Taiwan | Trade Debt | $22,008,354 | |
| 07 | WEESP UNLIMITED ATTN: G.R. E. Jurgens, Managing Director Glenside Works, Mil Lane, palmerston, Dublin 20, Ireland | Term Note | $20,000,000 | |
| 08 | SONY STUDIOS ATTN: Stefan Litt10202 W. Washington Blvd Culver City, CA 90232 | Trade Debt | Contingent | $16,666,667 |
| 09 | WARNER BROTHERS ATTN: Darcy Antonellis 4000 Warner Blvd Burbank, CA 91522 | Trade Debt | Contingent | $14,175,000 |
| 10 | XPEDX ATTN: Steve Bowden 6285 Tri Ridge Blvd. Loveland, Ohio 45140 | Trade Debt | $12,949,939 | |
| 11 | Nokia Corporation ATTN: Vice President Intellectual Property Rights P.O. Box 226 FIN-00045 Nokia Group Finland | Amended and Restated Sensor Agreement | $12,000,000 | |
| 12 | PRIMAX ELECTRONICS LIMITED ATTN: Jack Pan - President No. 669, Ruey Kuang Road Neihu Taipei, Taipei Taiwan, R.O.C. | Trade Debt | $11,585,196 | |
| 13 | WALMART ATTN: Kevin Oconnor 702 SW 8th Street Bentonville, Arkansas 72716 | Trade Debt | $11,421,973 | |
| 14 | The Bank of New York Mellon as Indenture Trustee ATTN: Corporate Trust Administration 101 Barclay Street, 8W New York, NY 10286 | Unsecured Notes (2021 Sr. Unsecured Notes - 9.20%) | $10,220,209 | |
| 15 | NBC Universal Inc. ATTN: Marcia Haynes 100 Universal City Plaza Universal City, CA 91608 | Trade Debt | Contingent | $9,275,570 |
| 16 | TARGET ATTN: Nik Nayar 1000 Nicollet Mall Minneapolis, MN 55403 | Trade Debt | $9,009,509 | |
| 17 | BEST BUY ATTN: Lisa Farrell7601 Penn Ave South Richfield, MN 55423-3645 | Trade Debt | $8,397,115 | |
| 18 | PARAMOUNT STUDIOS ATTN: Mark Christiansen 5555 Melrose Ave Los Angeles, CA 90038 | Trade Debt | Contingent | $6,750,000 |
| 19 | SANYO ELECTRIC CO., LTD. ATTN: Satoru Hotta - VP 5-5, Keihan-hondori 2-chome Moriguchi City, Osaka 570-8677 Japan | Trade Debt | $4,994,354 | |
| 20 | OFFICE MAX ATTN: Igor Anshakov 263 Shuman Blvd. Naperville, IL 60563 | Trade Debt | $4,658,704 | |
| 21 | PREFERRED CARE INC ATTN: Lisa Brubaker - Exec. VP 220 Alexander St Rochester, NY 14607 | Employee Benefits | $4,350,643 | |
| 22 | DISNEY STUDIOS ATTN: Jeff Miller 500 S Buena Vista Burbank, CA 91521 | Trade Debt | Contingent | $4,162,500 |
| 23 | FELEX SCHOELLER HOLDING GMBH & CO. KG ATTN: Guido Hofmeyer, Sr VP PO Box 3667 D-49026 Osnabruck, Lower Saxony Germany | Trade Debt | $4,105,358 | |
| 24 | NANJING WANLIDA TECHNOLOGY CO LTD ATTN: Jason Zeng - VP No. 618, Jiahe Road Xiamen, Fujian China | Trade Debt | $3,663,550 | |
| 25 | FLEXTRONICS INTERNATIONAL LTD. ATTN: EC Sykes -President Industrial 1007 Gilbraltar Drive, Building # 7 Milipitas, CA 95035 | Trade Debt | $3,478,974 | |
| 26 | STAPLES ATTN: Mark Mettler500 Staples Drive Framingham, MA 01702 | Trade Debt | $3,182,384 | |
| 27 | CVS ATTN: Jim Shiels 1 CVS Drive Woonsocket, RI 02895 | Trade Debt | $3,168,410 | |
| 28 | WYNIT ATTN: Pete Richichi 5801 East Taft Rd North Syracuse, New York 13212 | Trade Debt | $3,126,229 | |
| 29 | The Bank of New York Mellon as Indenture Trustee ATTN: Corporate Trust Administration 101 Barclay Street, 8W New York, NY 10286 | Unsecured Notes (2018 Sr. Unsecured Notes - 9.95%) | $3,104,000 | |
| 30 | AMAZON.COM ATTN: Heather Cartwright 701 5th Ave Seattle, Washington 98104 | Trade Debt | $3,027,401 | |
| 31 | OFFICE DEPOT ATTN: Randy Wick 6600 North Military Trail Boca Raton, FL 33496 | Trade Debt | $2,899,193 | |
| 32 | ALCOA, INC. ATTN: Jennifer Fredieu - Account Manager 2300 North Wright Road Alcoa, TN 37701-3141 | Trade Debt | $2,817,978 | |
| 33 | RYDER SYSTEM, INC. ATTN: Steve Sensing VP-General Manager 1000 Corporate Centre Drive, Suite 350 Franklin, TN 37067 | Trade Debt | $2,711,174 | |
| 34 | SAMS WHOLESALE CLUB ATTN: Joe Hartsig 2101 Simple Savings Drive Bentonville, Arkansas 72716 | Trade Debt | $2,709,212 | |
| 35 | ADECCO S.A. ATTN: Deborah J. Cave-Harnden National Account Manager1330 Lexington Ave Rochester, NY 14606 | Trade Debt | $2,484,451 | |
| 36 | GE RICHARDS GRAPHIC SUPPLIES CO INC ATTN: Jeff Wagner 928 Links Avenue (PO Box 339) Landisville, PA 17538 | Trade Debt | $2,345,011 | |
| 37 | DEUTSCH INC ATTN: Erica Grau - EVP, Dir. Of Client and Agency Operations 111 8th Ave. NY, NY 10011 | Trade Debt | $2,295,056 | |
| 38 | MATSUSHITA ELECTRIC INDUSTRIAL CO., LTD. ATTN: Rick Martin 1-1 Matsushita-cho Moriguchi City, Osaka 570-8511 | Trade Debt | $2,274,068 | |
| 39 | JOHNSON CONTROLS, INC. ATTN: Tom Bourke, VP and GM 507 E Michigan St, PO Box 423 Milwaukee, WI 53201-0423 | Trade Debt | $2,247,999 | |
| 40 | TORAY INDUSTRIES, INC. ATTN: Richard R. Schloesser - CEO 50 Belver Avenue North Kingstown, RI 02852-7500 | Trade Debt | $1,924,227 | |
| 41 | SANMINA-SCI CORPORATION ATTN: Tom Clawson - President Industrial 2700 North First Street San Jose, CA 95134 | Trade Debt | $1,912,926 | |
| 42 | COLLINS INK CORP. ATTN: Lawerance Gamblin-Owner 1201 Edison Drive Cincinnati, OH 45216 | Trade Debt | $1,889,468 | |
| 43 | INTERNATIONAL BUSINESS MACHINES CO ATTN: Anthony Martinez - GM Managed Business Process Services 3301 Carrack Court Raleigh, NC 27613 | Trade Debt | $1,874,781 | |
| 44 | CHAMPION PHOTOCHEMISTRY INTERNATIO ATTN: R. Fraser Mason - CEOPO Box 44105 RPO Wexford Plaza Brampton, ON L6Z 4V7, Canada | Trade Debt | $1,746,376 | |
| 45 | OPTIMATION TECHNOLOGY INC ATTN: Bill Pollock, President and CEO 50 High Tech Drive Rush, NY 14543 | Trade Debt | $1,736,932 | |
| 46 | MOSAIC SALES SOLUTIONS ATTN: Angie Damron-Beene Senior Director, Client Services 6051 N State Hwy 161 Irving, TX 75038-2236 | Trade Debt | $1,663,980 | |
| 47 | CRANEL INCORPORATED ATTN: Craig Wallace 8999 Gemini Pkwy Columbus, Ohio 43240-2010< | Trade Debt | $1,645,643 | |
| 48 | WIPRO LIMITED NS Bala - Senior VP 425 National Ave # 200 Mountain View, CA 94043 | Trade Debt | $1,640,773 | |
| 49 | State of California Franchise Tax Board ATTN: Ms. Mary Genoese 1212 Avenue of the Americas – 4th Floor New York, NY 10036-1601 | Tax Claim | Contingent, Unliquidated, and Disputed (Amount stated to be "Unknown, butestimated at over $1,640,772") | $1,640,772 |
| 50 | New York State Department of Taxation and Finance, Buffalo District Office ATTN: Mr. David Agnew 77 Broadway, Suite 112 Buffalo, NY 14203-1670 | Tax Claim | Contingent, Unliquidated, and Disputed (Amount stated to be "Unknown, butestimated at over $1,640,772") | $1,640,772 |
The list does not include: (1) persons who come within the definition of “insider”; or (2) secured creditors, unless the value of the collateral is such that the unsecured deficiency places the creditor among the holders of the largest unsecured claims.
Bankruptcy Rule 1007(d) provides that a debtor shall file “a list containing the name, address and claim of the creditors that hold the 20 largest unsecured claims, excluding insiders.” Fed. R. Bankr. P. 1007(d). In the case of a multi-debtor filing, it is likely that many creditors are shared among certain of the debtors. This is especially the case where the debtors operate as a single business enterprise. Under these circumstances and provided that there is a request for joint administration, it is common for multiple, related debtors to request authority to file a single, consolidated list of their collective largest general unsecured creditors. These requests usually are granted by the bankruptcy court.
The Top Unsecured Creditor List is never to be considered a waiver of any defense to or “allowability” of a listed claim or an admission of the amount of any listed claim. It is common for the amount of the claims to shift and sometimes a claim that is initially is undisputed is later disputed. Creditors should always consult the official claims register.
FN1 The 15 affiliated debtors are Creo Manufacturing America LLC; Eastman Kodak Company; Eastman Kodak International Capital Company, Inc.; FPC Inc.; Far East Development Ltd.; Kodak (Near East), Inc.; Kodak Americas, Ltd.; Kodak Aviation Leasing LLC; Kodak Imaging Network, Inc.; Kodak Philippines, Ltd.; Kodak Portuguesa Limited; Kodak Realty, Inc.; Laser-Pacific Media Corporation; NPEC Inc.; Pakon, Inc.; and Qualex Inc.