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Eastman Kodak Co., the photography pioneer that filed for bankruptcy in January, is seeking expressions of interest in its digital-imaging patents by today, Bloomberg News reported yesterday. At this stage, Kodak is only determining who may want to bid on the portfolios, rather than taking formal offers, the Rochester, N.Y.-based company said. The ultimate price may hinge on the outcome of Kodak's case with the U.S. International Trade Commission, which is deciding whether Apple Inc. and Research In Motion Ltd. violated patents covering image previews on cameras. Judge Thomas Pender is due to give his ruling by May 21.

Philip Falcone's telecom start-up LightSquared edged closer to a bankruptcy filing as the hedge fund manager was far from an agreement with creditors, Reuters reported yesterday. Falcone has until today at 5 p.m. ET to reach an agreement or face a default on a $1.6 billion loan. Creditors have been negotiating to restructure LightSquared's 96 percent ownership by Falcone's Harbinger Capital Partners. Debt holders could have declared a default on the loan, which would have forced a bankruptcy, if there was no agreement by April 30. The deadline has been extended twice.

Phil Falcone, whose hedge fund Harbinger Capital Partners LLC has invested about $3 billion in a wireless venture that is fighting to avert bankruptcy, said that investors are passing up good illiquid investments, Bloomberg News reported yestereday. Falcone's main hedge fund has about 40 percent of its assets in LightSquared Inc., a startup broadband company fighting for survival after the Federal Communications Commission said in February that it would withdraw preliminary approval for the company's network. This week, Falcone received a second weeklong extension from creditors, who are negotiating with Falcone to give up some of his equity in the venture.