MM Dillon was retained by Boies, Schiller & Flexner LLP as a financial consultant for the benefit of their clients, Douglas A. Kelley, Trustee et al (the “Trustees”) of the Polaroid estate in Bankruptcy, in connection with litigation related to the JP Morgan Chase & Co sale of Polaroid. The case involved the sale by the One Equity Partners subsidiary of JP Morgan and the claims for over $500 million.
Polaroid was founded in 1937 by Edwin H. Land, to exploit the use of its Polaroid polarizing polymer. Land ran the company until 1981. Its peak employment was 21,000 in 1978, and its peak revenue was $3 billion in 1991. When the original Polaroid Corporation was declared bankrupt in 2001, its brand and assets were sold off. The “new” Polaroid formed as a result, and itself declared bankruptcy in 2008, resulting in a further sale and in the present-day Polaroid Corporation.
About M.M. Dillon & Co.
M.M. Dillon & Co. (formerly CRT Investment Banking LLC) is an employee owned partnership where industry and product specialists collaborate closely to provide creative, idea-driven advice and solutions to its institutional and corporate clients. M.M. Dillon offers public and private financing, M&A advisory and restructuring advisory services. M.M. Dillon’s team of experienced professionals provides execution capabilities for companies across a range of industry sectors. The firm’s senior banking professionals have a minimum of 20 years of experience with major Wall Street firms.