The following is excerpted from a January 4, 2012 article by Larry Dignan of ZDNet:
According to the Wall Street Journal, Kodak is looking for US$1 billion in debtor-in possession financing, which keeps companies running in a restructuring, with the idea that it would sell its 1100 patents in an auction.
In other words, Kodak is betting that it can land capital like Nortel Networks did — via a bankruptcy court auction. Kodak is trying to sell the patents to avoid a bankruptcy filing.
Read the full article here.