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Polaroid trustee wins use of $2.79 million cash collateral to Dec. 31
By Jim Witters
Wilmington, Del., June 26 - Polaroid Corp.'s Chapter 7 trustee received court approval to use $2.79 million of cash collateral to administer the company's bankruptcy estates from July 1 through Dec. 31, according to documents filed June 26 with the U.S. Bankruptcy Court for the District of Minnesota.
Of the $2.79 million requested, $1.79 million would be allocated for Polaroid and $991,100 for Polaroid Consumer Electronics, LLC, trustee John R. Stoebner said.
Polaroid, a Minnetonka, Minn., instant and digital imaging company, filed for bankruptcy on Dec. 18, 2008. Its Chapter 7 case number is 08-46617.
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