Polaroid trustee gets OK to use cash collateral through September

By Lisa Kerner

Charlotte, N.C., April 6 - Polaroid Corp.'s Chapter 7 trustee John R. Stoebner was granted his request for an extension to use the cash collateral awarded in January through Sept. 30 by the U.S. Bankruptcy Court for the District of Minnesota at a hearing on Tuesday, according to an attorney close to the case.

As previously reported, Stoebner said he expected to expend approximately $1,010,469.94 from Jan. 1 through March 31.

Stoebner said that since Sept. 1, 2009, he has recovered at least $10,158,045.33 for the estates.

Polaroid, a Minnetonka, Minn., instant and digital imaging company, filed for bankruptcy on Dec. 18, 2008. Its Chapter 11 case number is 08-46617.

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