<p>Eastman Kodak has agreed to transfer part of its business to the UK Kodak Pension Plan (KPP) to settle $2.8bn (1.8bn) of claims made by the scheme.</p><p>If approved by the US Bankruptcy Court, the company would spin-off its Personalised Imaging and Document Imaging businesses to the KPP for cash and non-cash considerations worth $650m (419m).</p><p>The proceeds would then be used to help the company emerge from Chapter 11 bankruptcy and for the growth of its Commercial Imaging business.</p><p>After the company filed for bankruptcy in January 2012, the trustees from the underfunded KPP lodged a claim last year against the company in the US to cover its deficit.</p><p><a href="http://www.pensionfundsonline.co.uk/(X(1)S(qidoarubobiw24lk2fi2b3bp))/dir/virtualpages.aspx?cat=pension-funds-insider&sub=legal&title=kodak-settles-28bn-claim&id=960">Keep reading...</a></p>