Kodak Government Deal On Verge Of Collapse: DFC Says “Recent Allegations Of Wrongdoing Raise Serious Concerns”

Kodak Government Deal On Verge Of Collapse: DFC Says “Recent Allegations Of Wrongdoing Raise Serious Concerns”

Tyler Durden

Sat, 08/08/2020 – 16:30

Ever since Reuters reported last week that Kodak had granted its Chairman, Jim Continenza, some 1.75 million options (in what appears to be less than an “arms-length deal” and as the result of what was called an understanding” with the Board of Directors), just one day before the infamous $765 million loan from the government was announced on July 28, which was meant to transform the one-time photography titan (since bankrupt) into a China supply-chain alternative to produce pharmaceutical products in Rochester and at the company’s facility in St. Paul, Minnesota, and which sent its stock price from $2 to $60 in two days….