Kodak patent auction set to begin

Posted at: 08/08/2012 3:21 AM

nullThe auction will begin Wednesday for Kodak's patents.

There are already two bids on the patents from Apple and Google. But the Wall Street Journal is reporting that the bids came in well below the $2 billion that Kodak says its patents are worth. The Journal reports that there are concerns now that there may not be a lot of money left for the company to get out of Chapter 11 restructuring once it pays off its creditors.

Kodak stock fell 18 cents on Tuesday.