Insider Trading Letters To Judge & US Trustee

IMO...the hope is that the US Trustee and Judge Gropper takes these allegations seriously, and the Judge would hopefully first appoint an Equity Committee, and then appoint an Examiner.

That is why it is crucial, after the insider trading letter is filed to have all the shareholders send the supplemental form letter in support of their initial letter to the US Trustee.

We need to put enormous pressure on the US Trustee by sending letters to their office, and also sending out the filed insider letter to as many news outlets as possible.

As for the Wamu case, allegations of insider trading didn't come out until the very last moments of the first confirmation hearing, when a common shareholder stood up in front of the Judge and gave evidence that showed the potential insider trading among hedge fund bond holders who were negotiating the POR.

It wasn't until the third confirmation hearing, when the judge ruled that there were "colorable claims" to the allegations of insider trading (which that ruling is now expunged from records after mediation between shareholders and hedge funds) that the hedge funds settled in mediation and gave a portion of the new emerged company to shareholders.

Wamu's Ch. 11 case started on Sept. 26, 2008 and it finally emerged in March 19, 2012.

Although I don't have much faith in the main stream media, my secondary hope is that one reporter will actually do some investigative reporting and expose the Kodak case without us spoon feeding them 100% of the way.

Thanks Stockrider for sending your supplemental support letter to the US Trustee.

Please spread the word to all the message boards in Europe. We also need all the Kodak Shareholders around the world to spread the word too.

Every letter will help.

I delivered mine in person and it the time stamp show it as just over an hour after I delivered it and it took over an additional 24 hours for it to hit KCC.

Once DMD's letter is filed, I will release this:

May 23, 2013
Office of the United States Trustee
Attn: MS Tracy Hope Davis
U.S. Federal Office Building
201 Varick Street, Suite 1006
New York, NY 10014

Telephone: (212) 510-0500
Facsimile: (212) 668-2255
Fax: (212) 668-2255


Re: Official Equity Committee formation for Case #12-10202 Eastman Kodak Company

Dear Ms. Davis,

I am following up with my earlier requests to you and Mr. Masumoto for formation of an official equity committee. Your office has been informed of numerous concerns that I have summarized below. Any one of the following matters represents an actionable item and justifies formation of an official equity committee. When combined, they suggest potential corruption and egregious oversight of this entire bankruptcy process.

1) Allegations of potential insider trading by 2nd lien lenders and other secured & unsecured creditors/debt holders.

2) An unprecedented lack of disclosure pertaining to important assets including, but not limited to, the KISS/DC patent sale, the JK Imaging-Kodak brand licensing agreement, proposed joint ventures, and potential acquirers of all or part of Kodak’s assets.

3) Unreported value pertaining to Kodak’s remaining patent portfolio, cross-licensing agreements, and patent/brand/trademark royalties.

4) Unreported value pertaining to Kodak’s foreign subsidiaries.

5) Undervaluation or unreported value pertaining to Kodak’s land and property.

6) Unreported value of potential joint ventures referenced repeatedly in the bankruptcy billing statements.

7) Unreported value of recently announced joint ventures with Uni-Pixel and others.

In addition to the aforementioned concerns, your office has received a Plan of Reorganization (POR) produced by a group of concerned shareholders. This shareholder POR serves as an alternative to Kodak’s POR released on April 30, 2013 and provides industry-recognized approaches that account for many of Kodak’s hidden assets while also providing conservative scenarios that preserve shareholder equity.

It is my understanding that the U.S. Trustee Program is the component of the Justice Department that protects the integrity of the bankruptcy system by overseeing case administration and litigating to enforce the bankruptcy laws. I urge you to take action now to preserve the integrity of this process and to uphold your oath to the office and the citizens of the United States.

Please appoint an Official Equity Committee before the Chapter 11 case proceeds any further.



Respectfully,


___________________________


CC: Brian S. Masumoto, The Honorable Judge Allan Gropper

I like that Logic. Can we use that as a form letter?

You guys can use it however you want... as is, modify it, whatever suits your needs. I was just going to wait until DMD's letter was filed. Then I will send it to Tracy, Brian, and Judge Gropper (and others). I hope that others will wait as well.

Logik

Thanks for the Birthday Greetings.

You are correct, this is far from being over. In fact, the fight is just getting started. Stay vigilant folks, and don't get discouraged!