Judge Permits Kodak’s Patent Auction Despite Apple’s Objections
On Tuesday, 3 July 2012, US Bankruptcy Judge Allan Groper said in a hearing that struggling Kodak can auction off more than 1,100 patents as part of its bankruptcy restructuring plan. This was reported by Bloomberg.
The sale will go forward, despite Apple’s objection to the auction and its outstanding ownership claims.
Apple previously filed a lawsuit against Kodak. The iPhone-maker claimed that the camera company stole the technology that is included in ten of the patents that Kodak hopes to sell off. Kodak sued Apple to block Apple’s ownership claims and the two lawsuits are making their way through the court system.
In a statement to Bloomberg, Kodak said:
“We are gratified that the court has enabled us to move ahead with our patent auction in a timely manner and with clarity on ownership for the winning buyer.”
Apple declined to comment on verdict.