Kodak Consulting With Creditors About Retaining Patents
By David McLaughlin – Sep 14, 2012 10:53 AM ET
Eastman Kodak Co. (EKDKQ), which put patents up for sale at a bankruptcy auction, is consulting with creditors about retaining the patents and forming a licensing company.
Kodak has been engaged in “extensive ongoing negotiations” for a potential sale and licensing transaction, the company said in a filing today in U.S. Bankruptcy Court in Manhattan.
“The debtors are continuing to explore other alternatives with respect to the digital imaging patent assets, and their intellectual property more broadly, and may not reach acceptable terms with parties via the auction process,” Kodak said.
Kodak, based in Rochester, New York, is selling the patents to finance a turnaround after filing for bankruptcy in January. A court hearing scheduled for next week to consider a sale of the assets was adjourned “until further notice,” Kodak said.
The case is In re Eastman Kodak Co., 12-10202, U.S. Bankruptcy Court, Southern District of New York (Manhattan).
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