Kodak Seeks Auction of Patents After no ‘Stalking Horse’ Bidder Emerges

“The proposed structure of the auction is tailored to the special nature of the assets,” said Timothy M. Lynch, Kodak vice president and chief intellectual property officer. “The bidding procedures are designed to allow bidders to give us their best offers without fear of showing their cards to competitors. In filing these proposed procedures in advance of the June 30 deadline in our lending agreement, we are moving ahead as quickly as possible with the process of monetizing our digital imaging patent portfolio.”