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  1. #191

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    Looks like they are possibly teaming up and doing a group buy instead of ramping up a bidding war:

    http://www.13wham.com/news/local/sto...0ELz-yZfg.cspx

    It also looks like this is just not going to go much over $500 million, quite a bit less than the bean counting optimists were hoping.....what a mess...

  2. #192
    CGW
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    Quote Originally Posted by PKM-25 View Post
    Looks like they are possibly teaming up and doing a group buy instead of ramping up a bidding war:

    http://www.13wham.com/news/local/sto...0ELz-yZfg.cspx

    It also looks like this is just not going to go much over $500 million, quite a bit less than the bean counting optimists were hoping.....what a mess...
    The stock quivered up a bit on the day in response:

    http://www.google.com/finance?cid=10501

  3. #193

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    General question here. What happens to the patent portfolio of a company that fails to reorganize and goes completely bankrupt?

  4. #194
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    Auctioned off during the CH 8 proceedings I suppose.

    PE

  5. #195

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    Quote Originally Posted by PKM-25 View Post
    Looks like they are possibly teaming up and doing a group buy instead of ramping up a bidding war:

    http://www.13wham.com/news/local/sto...0ELz-yZfg.cspx

    It also looks like this is just not going to go much over $500 million, quite a bit less than the bean counting optimists were hoping.....what a mess...
    I thought it was stated somewhere that Kodak needed to gain at least 2 billion dollars from this auction to have any hope at all to pay back their creditors. What happens next if Kodak fails to raise the funds? Can the bankruptcy be extended?

  6. #196
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    I read that the Justice department might be interested in this single bloc of buyers, as it could be viewed as collusion. You can't have an auction with just one buyer.

  7. #197
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    Quote Originally Posted by RattyMouse View Post
    I thought it was stated somewhere that Kodak needed to gain at least 2 billion dollars from this auction to have any hope at all to pay back their creditors. What happens next if Kodak fails to raise the funds? Can the bankruptcy be extended?
    You are correct. They needed $2B to pay off all debts. As of now, they either succeed or fail at raising that. If they don't raise it, then they try to pay their debts out of income (if any), or they fail at recovery and go into the next stage of the bankruptcy proceedings as defined by the court. That cutoff date is Feb. 2013.

    PE

  8. #198
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    Quote Originally Posted by Brian C. Miller View Post
    You can't have an auction with just one buyer.
    Sure you can. Only one bidder will buy and you can also have an auction with just one bidder (or none).


    Steve.

  9. #199

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    ... I just hope that single buyer is smart enough to not try outbidding himself.

  10. #200
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    Supposedly we could hear tomorrow that a winner (if any) has been selected:

    According to the notice filed with the U.S. Bankruptcy Court for the Southern District of New York, Kodak is expected to give the court a Notice of Final Sale regarding the auctioned patents by Thursday, with a final court hearing to follow a week later.
    Per Appleinsider:
    http://appleinsider.com/articles/12/...e_hearing.html
    Andy



 

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