It sounds to me like some of the folks involved in the KPP in the UK looked at the Ilford management buyout and weighed that against their resources and assets and say "well, we could do that too!" Surely there are some former Kodakers that know something about the film business dependent upon the pension plan and willing to go head to head with Ilford, even if only in an advisory capacity to the people really running the business. Think about our friend PE, for instance. He's not in the UK, though, but there must be someone over there like him. Kodak had a major facilities in the UK, right?
The company I work at has an arm in the UK and I have often gotten the feeling that over there they are more interested in "doing business" and willing to stick their necks out a little for the potential return. (vs the US where sometimes it seems to be more like "where can we buy it and get the production to China.") They usually seem to find a way to make it work - Ilford would be a case in point. Or, Adox.... etc.
Ilford doesn't supply color film, so maybe these KPP guys see an opportunity there, in addition to Kodak's great B/W products. If my thoughts are correct, two great film manufacturers going head to head with the best products in the world in a competitive and healthy way could be a very good thing for all of us.