Kodak, Kyocera $4.95 million contract, patent settlement approved

By Lisa Kerner

Charlotte, N.C., May 1 - Eastman Kodak Co. was granted court approval of a $4.95 million contract and patent-related litigation settlement reached with Kyocera Corp., according to a Wednesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

Kodak said it has been in litigation with Kyocera since 2010.

As previously reported, the parties negotiated an agreement under which all pending lawsuits and claims, including an $80 million patent infringement-based claim and a post-bankruptcy patent infringement lawsuit filed by Kyocera, will be settled in exchange for Kyocera's $4.95 million payment to Kodak.

The settlement also includes a standstill period that ensures the Kodak debtors will face no further litigation with Kyocera for a period of three years following their emergence from Chapter 11 bankruptcy.

Kodak is a Rochester, N.Y.-based imaging technology products and services provider to the photographic and graphic communications markets. The company filed for bankruptcy on Jan. 19, 2012 under Chapter 11 case number 12-10202.

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