Sullivan & Cromwell does not usually serve as lead debtors’ counsel in bankruptcy cases, but the firm made an exception on Jan. 19 when longtime client Eastman Kodak initiated Chapter 11 proceedings in Manhattan.
S&C was founded in 1879, the same year Kodak founder George Eastman sought to obtain a patent on a plate-coating machine that would eventually give rise to his iconic camera company, which has struggled to adapt to a changing market, most recently seeking to use its many patents to shore up a cash shortfall.
