Eastman Kodak has reportedly come out of its bankruptcy as the court approved of the company's plans for restructuring.
The company was founded in New York more than 100 years ago and pioneered the use of film in cameras, but ever since digital photography emerged, the company ran out of business and had planned to come out of bankruptcy in July.
However, now Kodak is a commercial imaging company serving business markets such as packaging and graphics, news.com.au reports.
Kodak Chairman and CEO Antonio Perez said that the company is on track for profitable growth.
The company said that its old stock has been cancelled as of Tuesday and the creditors are getting shares in the reorganised company.