Kodak sues North Carolina bank over $30 million loan

ROCHESTER, NEW YORK - Eastman Kodak Company is suing a North Carolina bank in an effort to recover a $30 million loan to an Atlanta-based photography retailer that filed for bankruptcy protection last year. <br> <br> The loan to Wolf Camera Incorporated was intended to pay for new stores, store renovations and acquisitions but, Kodak alleged, was used instead by one of Wolf Camera&#39;s largest creditors, First Union National Bank of Charlotte, North Carolina, to pay off debts. <br> <br> The world&#39;s biggest photography company is suing Wachovia Bank National Association, as First Union is now known after a merger, for fraud, breach of contract and contractual interference. <br> <br> The lawsuit, filed in Rochester, New York this week in state Supreme Court, also seeks unspecified compensatory and punitive damages.