Kodak Sells Off Special Effects Unit, Reignites Shutterfly Feud

Law360, New York (May 10, 2012, 4:58 PM EDT) -- Eastman Kodak Co. picked up two wins Thursday in its ongoing bankruptcy, finding a private equity buyer for its British special effects studio and winning a bankruptcy judge's go-ahead to resume its patent dispute with Shutterfly Inc. over online photo technology.

The two developments bring Kodak, which filed for bankruptcy in January after falling behind in the digital technology race, a step closer toward paying off creditors and emerging from Chapter 11 protection as a slimmer, more focused company.

British private equity firm Endless LLP was...
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