Kodak requests court approval of licensing agreement claim stipulation

By Caroline Salls

Pittsburgh, Jan. 29 - Eastman Kodak Co. requested court approval of a licensing agreement claim stipulation reached with Jos. Schneider Optische Werke GmbH, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

Under a January 2008 agreement, Kodak licensed trademarks owned and maintained by Schneider in connection with the marketing, promotion and sale of digital camera lens systems and similar products.

Kodak said the licensing agreement required it to make annual royalty payments of €2.1 million in quarterly installments of €525,000.

After Kodak filed for bankruptcy, Schneider filed €630,000 in initial claims in connection with Kodak's use of trademarks.

The bankruptcy court approved Kodak's motion to reject the Schneider agreement in July 2012. Schneider subsequently filed €4.07 million in claims, plus unliquidated claims in an amount of €5,737.7049 per day for use of the trademarks. Some of those claims were amended and expunged as duplicate claims.

Under the proposed stipulation, Kodak will pay €525,000 to Schneider. In addition, Schneider will have €630,000 in non-priority general unsecured claims related to the use of trademarks and a €1.05 million claim related to the rejection of the agreement.

A hearing is scheduled for Feb. 20.

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 under Chapter 11 case number 12-10202.

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