You bring up some good points. However, it is wise to consider that EK allocated 2.9 BIL of the current liabilities as "subject to compromise", so it stands to reason that we may see a significant reduction in total liabilities in the next 10-Q.
Additionally, we all know Kodak has spent a significant amount of cash during the first half of 2012 for reorganization purposes. This should be viewed as an anomaly, and cash spending should attenuate as times goes on. As such, it is also reasonable to assume that a significant reduction in total liabilities would ensue as a result of said reorganization efforts.
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