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Kodak files for bankruptcy: restructuring and patent suits

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After a long decline, Kodak is filing for Chapter 11 bankruptcy. The company had $5.1 billion in assets and $6.75 billion in debt as of September 30th, 2011, and its remaining value is mostly in patents, which it is currently trying to sell off and enforce. Kodak is expected to continue operating during bankruptcy proceedings.Image credit: Liz Higgs (Flickr)