I can’t wait till my partner Kenny posts about the nightmare way the bankruptcy proceedings went because it is an amazing backstory. We are very excited at Knight’s Bridge to be part of a great acquisition team and brand building opportunity. Please share with me ideas and brand possibilities if you feel so inclined.

Here is our full press release:

TORONTO, ONTARIO–(Marketwire – April 17, 2009) – Counsel Corporation (TSX: CXS) today announced that its wholly-owned subsidiary, Knight’s Bridge Capital Partners, through its Fund, Knight’s Bridge Capital Partners Fund I L.P., is part of an investor group that has been successful in bidding for Polaroid Corp.

In conjunction with its partners, Hilco Consumer Capital and Gordon Brothers Brands, Knight’s Bridge was successful in its bid to acquire Polaroid for US$87.6 million. Through its Fund, Knight’s Bridge will be investing in excess of 30% of the funds required to close the transaction.

“The Polaroid name is one of the most iconic brand names and has almost 100% global awareness,” said Kenny Finkelstein, CEO of Knight’s Bridge. “This is a tremendous opportunity to monetize the strength of that brand name by building a global licensing organization. Polaroid already has a very interesting portfolio of innovative and patented technologies that represent both an initial revenue stream and a platform for other new products and product categories.”

“This investment is a great fit for us,” said Allan Silber, CEO of Counsel Corp. “The licensing strategy represents a great way to add value to Polaroid, and Kenny Finkelstein and his team at Knight’s Bridge have a wealth of experience in this area.”

The licensing strategy means that Knight’s Bridge and its partners will not be required to invest in plant, equipment or inventory. Product quality will be ensured by licensing only to the highest quality manufacturers, who will be subject to strict standards of production.

“We’re hitting the ground running, added Mr. Finkelstein. “In conjunction with our partners, who are deeply experienced in the licensing business, we are already looking for leadership to execute on this exciting new strategy for Polaroid.”

About Counsel Corporation

Counsel Corporation (TSX: CXS) is an international asset management firm that actively partners with businesses to achieve shared success and to unlock value through leveraging our relationships, our access to capital and our strategic market experience. For further information, please visit Counsel’s website at www.counselcorp.com.

About Knight’s Bridge Capital Partners Inc.

Knight’s Bridge, a 100%-owned subsidiary of Counsel Corporation, is an opportunistic and diversified financial services provider located in Toronto, Canada and Phoenix, Arizona. We are focused and dedicated to building portfolio companies into market leaders and industry stars. We look to back passionate, experienced entrepreneurs. We have always been able to see value where others cannot. Every opportunity is different and that is why we provide mentoring, guidance, strategic support and key contacts across diverse segments-not just capital.