Fraudulent conveyance issue clouds Kodak patent sale
from bloomberg :
Some potential bidders for the patents are wary of proceeding because a purchase may amount to a so-called fraudulent transfer if Kodak is insolvent, said the people, who asked not to be named because the talks are private. Kodak confirmed that it hired Jones Day to advise it on considering options and said it doesn't plan to seek bankruptcy protection.
"As we sit here today, the company has no intention of filing, and there is no change in our strategy to monetize our intellectual property," Gerard Meuchner, a spokesman for Kodak. "We're not concerned about fraudulent conveyance in regards to the sale of our IP portfolio."
Some potential bidders for the patents are wary of proceeding because a purchase may amount to a so-called fraudulent transfer if Kodak is insolvent, said the people, who asked not to be named because the talks are private. Kodak confirmed that it hired Jones Day to advise it on considering options and said it doesn't plan to seek bankruptcy protection.
"As we sit here today, the company has no intention of filing, and there is no change in our strategy to monetize our intellectual property," Gerard Meuchner, a spokesman for Kodak. "We're not concerned about fraudulent conveyance in regards to the sale of our IP portfolio."
posted by Lawrence B. Ebert at 3:17 AM
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