Esopus Questions Kodak Auction

Aug 22 2012 | 1:27pm ET

A hedge fund has thrown into question a key part of Eastman Kodak's bankruptcy plan.

Esopus Creek Advisors complained to U.S. bankruptcy trustee Tracy Hope Davis that it is "concerned as to the integrity of the bidding process" for Kodak's sale of its digital-imaging patents. The hedge fund's letter was prompted by an article last week in The Wall Street Journal which suggests that the two leading bidders, Apple Inc. and Google Inc., may by colluding, and it told Davis, "we note that the trustee is entitled to avoid any sale resulting from collusive bidding."

Esopus, whose Value Series Fund owns 9.75% of Kodak's senior secured note, fears that the "unusually secretive" process could be hurting Kodak's creditors.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

Compelling Opportunities In The Alternatives Space

Jul 29 2014 | 9:33am ET

In an environment where many asset classes seem expensive by historical standards...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note