Quote Originally Posted by Photo Engineer View Post
There is no "half glass" with health care. Kodak is going to cut it if that is approved. So, there will be nothing there!

I was referring to this text - I don't know if I got it right - in the originally quoted post:

The company said it reached an agreement with the court-appointed committee of retirees to pay a total of $650 million in claims and $7.5 million in cash into a fund that could be used for future payments in exchange for eliminating its current $1.2 billion liability for medical, dental, life insurance and survivor income benefits.

If the company is exposed for $1.2 billions and it pays $657.5 millions it should be around half of the total liability that the company is going to honour.

Maybe that only covers health care performances that have already been provided? I don't understand the use of "claims" here but it could be that the article was imprecisely worded. I infer this from the fact that the "liabilities" amount to $1.2 and I suppose that "liabilities" are exactly the total amount of the "promise" at today value. In that case, half of that would be paid or this is what I understand so far.

PS I see now that MattKing in post #6 reasons the same way. It's about half the promise which is being paid, and considering it's a dire situation at Kodak, half might be a bargain.