Kodak Professionals Agree to Cut Fee Request

Professionals working for bankrupt Eastman Kodak Co. and its official creditors’ committee agreed to cut by 1.7 percent an initial request for $38.3 million to cover fees and expenses through the end of April.

Richard Stern, the court-appointed fee examiner, negotiated with Kodak’s lawyers and advisers and won an agreement to reduce by $651,000 the amount sought for work since the start of the Chapter 11 case in January, according to a report filed in U.S. Bankruptcy Court in Manhattan.

Sullivan & Cromwell LLC, Kodak’s primary law firm, cut its $10.9 million in fees by $300,000, on top of a voluntary $600,000 reduction taken earlier.

Milbank Tweed Hadley & McCloy LLP, representing the creditors’ committee, trimmed its $4.54 million in fees by $125,000.

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