Rochester, N.Y. – The judge in Kodak’s bankruptcy case could rule Monday on whether its patent sale can move forward. There is a hearing in Manhattan.
The auction of the 1,100 patents could fetch $2 billion. Kodak needs the cash to pay off lenders and get out of bankruptcy. A number of technology companies have filed objections to the sale because they have claims on the patents or are licensees.
“The auction isn’t just important to Kodak. The auction is absolutely critical to whether Kodak can continue as a going concern and emerge from bankruptcy,” said George Conboy of Brighton Securities. He believes the judge will allow the auction to proceed.