Kodak News; June 18 – 22

On Monday Kodak sued Apple over ownership of 10 patents that both have claimed. Those 10 patents are part of the approximately 1,100 patents that Kodak is looking to sell. Last week, the Bankruptcy Court Judge suggested that this would be the the proper direction after saying he lacked the authority to rule on motion for a judgment that Kodak rightfully owns the patents. Seeing as it make take a long time to reach a decision on the ownership of those patents, probably a portion of the sale price will be set aside pending the outcome of the suit.

Then on Thursday, Apple asked a federal Judge to move the lawsuit out of Bankruptcy Court to a Federal District Court with a jury to decide the ownership of the patents. A decision on that motion will be coming sometime in the future.

Since filing for bankruptcy protection in January, 14 law and accounting firms have submitted requests for a total of $28.4 million in fees to the Court. Out of that total, Sullivan & Cromwell LLP, of NYC who are Kodak’s chief bankruptcy counsel have expenses and fees of $10.9 million