Polaroid Chapter 7 trustee asks court to reject Petters Group claims

By Lisa Kerner

Charlotte, N.C., Dec. 13 - PBE Corp., formerly Polaroid Corp., Chapter 7 trustee John R. Stoebner asked the court to disallow several claims filed by Petters Group Worldwide, LLC on the grounds that they are fraudulent or not enforceable, according to a Monday filing with the U.S. Bankruptcy Court for the District of Minnesota.

PGW is wholly owned and controlled by Thomas J. Petters, owner and chairman of the board of PBE and Polaroid Consumer Electronics, LLC, now known as PBE Consumer Electronics, LLC.

In December 2008, Petters and Petters Co., Inc. were indicted by a federal grand jury on charges of mail fraud, wire fraud, money laundering and other charges, according to the filing.

PGW's claims include May 2009 claims for $2.76 million and $55,798 for goods and services provided to or for the debtor.

Polaroid, a Minnetonka, Minn., instant and digital imaging company, filed for bankruptcy on Dec. 18, 2008. Its Chapter 7 case number is 08-46617.

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