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Hedge fund and Eastman Kodak (EKDKQ.PK) noteholder Esopus asks the trustee overseeing Kodak's...

  • Tuesday, August 21, 2012, 8:21 AM ET
    Hedge fund and Eastman Kodak (EKDKQ.PK) noteholder Esopus asks the trustee overseeing Kodak's bankruptcy to investigate its IP auction, saying the "unusually secretive" bidding process is unlikely to benefit creditors. Esopus is concerned about "the integrity of the bidding process" following press reports that two leading suitors, Apple (AAPL) and Google (GOOG), have joined forces.
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    Mr. Perez continues to push the "ethical business envelope". Quite frankly, I'm surprised a third party isn't managing this auction. If the entities interested in buying the patent portfolios don't meet the minimum cash reserves asked by the seller by a stated date then there is only one option: stop the auction and re-introduce the portfolios with different (much lower, obviously) cash expectations at a later date. EK, at this stage, may be delaying the inevitable...liquidation. Too bad...I love this company. I love what it did for Rochester. I love what it did for the USA. Shame on this Board of Mis Directors!
    21 Aug 2012, 10:08 AM Reply Like
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