Kodak said on Friday it may abandon efforts to sell a portfolio of digital imaging patents at auction, and has delayed indefinitely a court hearing to approve such a sale.
In a filing with the U.S. bankruptcy court in Manhattan, Kodak said if it were unable to reach acceptable sale terms, it could create a licensing company for the patents as a means to help repay creditors in its Chapter 11 case.
Kodak has been attempting to find a buyer for its vast portfolio of patents, comprising of more than 700 patents across digital cameras, smartphones and tablets, in an attempt to recoup cash needed as part of its bankruptcy restructure. The company filed for bankruptcy in late January after failing to keep pace with a digital market.
It has also been attempting to use its extensive patents to recoup some cash, firing off lawsuits against the likes of Apple, Samsung and HTC.
It lost its fight against Apple and co-defendant RIM in July when a judge ruled neither party had violated Kodak's rights. Kodak claimed Apple had been attempting to delay the sale of its large patent portfolio by wrongly claiming ownership of 10 image-preview patents created in partnership with Kodak in the early 1990s.
Kodak has said it will appeal the decision.
It is also embroiled in another case against Apple and HTC over its digital imaging patents. That case began in February and is still underway.
Copyright Reuters. Click for restrictions.
Issue: 316 | July 2013
Access CRN's extensive online resources including; email bulletins, community discussions and unique online news.
Processing registration... Please wait.
This process can take up to a minute to complete.
A confirmation email has been sent to your email address - SUPPLIED GOES EMAIL HERE. Please click on the link in the email to verify your email address. You need to verify your email before you can log on to the CRN website or start posting comments on articles.
If you do not receive your confirmation email within the next few minutes, it may be because the email has been captured by a junk mail filter. Please ensure you add the domain '@crn.com.au' to your white-listed senders.
