Kodak, LG successor Global OLED Technology agree to dispute settlement

By Caroline Salls

Pittsburgh, Aug. 26 - Eastman Kodak Co. requested court approval of a dispute settlement with Global OLED Technology LLC, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of New York.

Kodak said the settlement resolves a long-standing dispute related to its sale of organic light emitting diode (OLED) assets to Global OLED, as assignee and successor-in-interest of LG Display Co., Ltd., LG Electronics, Inc., and LG Chem, Ltd.

Specifically, the agreement settles all claims and causes of action asserted by Global OLED and allows Kodak to retain 15 of 18 disputed patents.

The three patents that reorganized Kodak would not use and a Pioneer license will be assigned to Global OLED.

A hearing is scheduled for Sept. 16.

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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