Thursday, January 3, 2013

Disney Seeks to Halt Bankruptcy Sale of 3-D Technology



Walt Disney (DIS) Studios Motion Picture Production asked a federal judge to block a bankruptcy court ruling that would allow the sale of patents related to 3-D movies.

Disney’s rights to use the technology to convert traditional films into three-dimensional movies will be harmed, the company said in its appeal in U.S. District Court in Wilmington, Delaware.

The dispute involves the shell company left in bankruptcy by the collapse of Digital Domain Media Group Inc., the provider of special effects for the movies “Transformers” and “Titanic.” That shell, known as DDMG Estate, held an auction for the patents last month.

Disney claims it has the right to use the technology because of agreements it signed with the original patent holder. Those agreements are related to movies including “Alice in Wonderland.”

Disney is asking the federal district court to hold a telephone hearing tomorrow so it can try to persuade a judge to temporarily prevent DDMG from closing the sale.

The case is In re Digital Domain Media Group Inc. (DDMGQ), 12-12568, U.S. Bankruptcy Court, District of Delaware (Wilmington).



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