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Federal agency finds no wrongdoing in Kodak loan: report
Original report: Watchdog for U.S. Agency That Brokered Controversial Kodak Loan Deal Finds No Wrongdoing (Wall Street Journal)
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Source: Reuters
BUSINESS NEWS
DECEMBER 6, 2020 5:26 PM UPDATED AN HOUR AGO
Federal agency finds no wrongdoing in Kodak loan: report
By Imani Moise
2 MIN READ
(Reuters) - A federal agency found no wrongdoing concerning the stalled U.S. government loan to Eastman Kodak Co, the Wall Street Journal reported on Sunday.
The inspector general for the U.S. International Development Finance Corp (DFC), which was administering the loan, told Democratic lawmakers he found no evidence that agency officials had any conflicts of interest in the plans, the report said.
It is unclear whether the agency will now move forward with the loan.
-snip-
Kodak stock has swung wildly since July when it announced that it would receive a $765 million loan to help produce pharmaceutical ingredients for potential COVID-19 treatments, but the process ground to a halt after Democratic lawmakers raised concerns about potential insider trading around the time of the announcement.
-snip-
DECEMBER 6, 2020 5:26 PM UPDATED AN HOUR AGO
Federal agency finds no wrongdoing in Kodak loan: report
By Imani Moise
2 MIN READ
(Reuters) - A federal agency found no wrongdoing concerning the stalled U.S. government loan to Eastman Kodak Co, the Wall Street Journal reported on Sunday.
The inspector general for the U.S. International Development Finance Corp (DFC), which was administering the loan, told Democratic lawmakers he found no evidence that agency officials had any conflicts of interest in the plans, the report said.
It is unclear whether the agency will now move forward with the loan.
-snip-
Kodak stock has swung wildly since July when it announced that it would receive a $765 million loan to help produce pharmaceutical ingredients for potential COVID-19 treatments, but the process ground to a halt after Democratic lawmakers raised concerns about potential insider trading around the time of the announcement.
-snip-
Read more: https://www.reuters.com/article/us-usa-eastman-kodak/federal-agency-finds-no-wrongdoing-in-kodak-loan-report-idUSKBN28G0VN
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