I don't think it is anywhere near as good as it sounds.
I could certainly be wrong but it seems by the way the article is worded that Kodak is proposing to pay 650+ million in claims that have already been made against those liabilities, but temporarily suspended because of the bankruptcy, and then put another 7.5 million in a bank account. If the text is correct then it appears to me that the extra 7.5 million will be good to cover about 3 weeks of expenses since Kodak estimates the cost to be about 10 million per month.
All they are trying to do is get out from under these liabilities. Like I said, I could be reading it wrong, but I don't think so.