Bankrupt Eastman Kodak Co said on Wednesday it was ending retiree healthcare and survivor benefits at the end of the year, allowing it to resolve a $1.2 billion liability, one of its biggest obligations.
The benefits, which include medical, dental, life insurance and survivor income benefits, will end December 31.
Kodak will give retirees a $635 million unsecured claim, a $7.5 million cash payment to support initial administration and benefit obligations, and a $15 million allowed administrative claim that would have priority in reorganization proceedings.
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