Bankruptcy Court Approves Kodak Patent Auction
By: WROC-TV
Updated: July 3, 2012
Kodak has been given the go-ahead to proceed with their patent auction.
The U.S. Bankruptcy Court gave the approval Monday night. Kodak hopes to sell off it's "Digital Capture" and "Kodak Imaging Systems and Services" patent portfolios. Apple and another company tried to block the patent auction, claiming ownership interests in some of the 1,100 patents. The court disagree, ruling all of the patents belong to Kodak and are free to be sold at auction.
Kodak hopes to use the money from the sale to help with its bankruptcy restructuring.
The U.S. Bankruptcy Court gave the approval Monday night. Kodak hopes to sell off it's "Digital Capture" and "Kodak Imaging Systems and Services" patent portfolios. Apple and another company tried to block the patent auction, claiming ownership interests in some of the 1,100 patents. The court disagree, ruling all of the patents belong to Kodak and are free to be sold at auction.
Kodak hopes to use the money from the sale to help with its bankruptcy restructuring.
