Two consortiums are bidding on Eastman Kodak's (EKDKQ.PK) 1,100 patents, the WSJ reports. One features Apple (AAPL), Microsoft (MSFT), and patent troll Intellectual Ventures. Another features Android partners Google (GOOG), Samsung (SSNLF.PK), LG, and HTC, along with RPX (RPXC). Bids are due on Monday. The report comes after the ITC dismissed a Kodak suit related to an image-preview patent, and Apple lost a bid to move a separate Kodak suit out of bankruptcy court. [View news story]
Good news. A good bidding result is the best hope for a substantial recovery to bondholders.
Kodak (EKDKQ.PK) files an emergence performance plan with a bankruptcy court in New York that spells out potential compensation for its management team. At last look, the company had $574M in cash and was showing close to a $20M per month loss, although it has been cleared to sell patents and start the process of paying off creditors. [View news story]
If the patent sale goes as planned, the bondholders might get a recovery in the 50% range, the stockholders nothing.
Unsurprisingly, Eastman Kodak (EKDKQ.PK) is extending the deadline for bidding on its patent portfolio. The first round of bids from two consortia of tech companies proved fairly disappointing. [View news story]
Two consortiums are bidding on Eastman Kodak's (EKDKQ.PK) 1,100 patents, the WSJ reports. One features Apple (AAPL), Microsoft (MSFT), and patent troll Intellectual Ventures. Another features Android partners Google (GOOG), Samsung (SSNLF.PK), LG, and HTC, along with RPX (RPXC). Bids are due on Monday. The report comes after the ITC dismissed a Kodak suit related to an image-preview patent, and Apple lost a bid to move a separate Kodak suit out of bankruptcy court. [View news story]
Kodak (EKDKQ.PK) files an emergence performance plan with a bankruptcy court in New York that spells out potential compensation for its management team. At last look, the company had $574M in cash and was showing close to a $20M per month loss, although it has been cleared to sell patents and start the process of paying off creditors. [View news story]