Kodak digital imaging patent final sale hearing adjourned to Sept. 19

By Caroline Salls

Pittsburgh, Aug. 30 - Eastman Kodak Co. has further adjourned the final hearing on the proposed sale of its digital imaging patent assets to Sept. 19 from Sept. 7, according to a Thursday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The final sale hearing was previously adjourned to Aug. 30 from Aug. 20.

As previously reported, the court entered a conditional sale order on July 5 approving the bid procedures for conducting a competitive process for the sale of any or all of the patent assets and authorizing the company to sell all or any portion of the assets, subject to final court approval.

As of Thursday, Kodak was in continuing discussions on a potential sale of the assets, according to the adjournment notice.

The new deadline for objection to the proposed final sale order will be Sept. 17.

On Aug. 23, Kodak announced that it has initiated sale processes for its personalized imaging and document imaging businesses.

At that time, the company said it had made no decision to sell the digital patent portfolio.

Kodak said in an Aug. 23 news release that it may, in consultation with creditors, keep the portfolio as an alternative source of recovery for creditors.

On Aug. 24, Apple Inc. and FlashPoint Technologies, Inc. appealed an order tied to Kodak's proposed digital patent sale.

In the order, judge Allan L. Gropper denied Apple's claim to two patents, saying the claims were filed too late.

"If Apple's claims proceed despite their unreasonably delayed commencement, Kodak might have to go back to the drawing board for ways to fund its case," Gropper said in his ruling.

"If Apple had brought its claims sooner, Kodak's Chapter 11 strategy at the least could have been modified to account for the cloud on title of the 218 and 355 patents."

Kodak is a Rochester, N.Y.-based imaging technology products and services provider to the photographic and graphic communications markets. The company filed for bankruptcy on Jan. 19, 2012. Its Chapter 11 case number is 12-10202.

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