The sale of Polaroid Corp. will proceed as scheduled next week after U.S. Bankruptcy Judge Gregory Kishel ruled it too late for the company's creditors to question company executives about the pending transaction and other financial matters, reports the Star Tribune.

  Subpoenas were recently issued for the depositions of Polaroid CEO Mary Jeffries and former corporate counsel David Baer. The subpoenas were denied after Kishel approved an objection by Polaroid's attorneys, noting that lenders Acorn Capital Group and Ritchie Capital Management have had more than two months to initiate discovery proceedings, says the article.

  Polaroid is part of the corporate estate of businessman Tom Petters. The company was placed in Chapter 11 bankruptcy along with other Petters business entities after he was charged in federal court with running a Ponzi scheme, says the article. Petters is fighting the charges.

Phase One A/S, Copenhagen, Denmark, is making a financial investment in Tokyo, Japan-based Mamiya Digital Imaging Ltd., becoming a major shareholder in the company behind the Mamiya brand of medium format camerase. Terms of the agreement are not being disclosed.

  Phase One's investment is intended to accelerate the development of medium format camera systems. Phase One will take on leadership for the companies' R & D, marketing and distribution management. Future digital backs based on Phase One digital work will be marketed under both the Phase One and Mamiya brands.
  Phase One is a provider of digital image capture and work flow management technology. Mamiya is a provider of medium format camera systems.

The professional camcorder market experienced growth in 2008 above the previous year's performance by nearly three to one, according to a recent Pro Camcorder Quarterly Market Update from Futuresource Consulting, Bedfordshire, United Kingdom.

  Non-tape professional camcorders developed in 2008 were a driver for last year's growth, says Futuresource. The success of several entry-level products contributed to professional camcorder sector growth in 2008, as well as the falling price of broadcast quality hardware. HD functionality dominates the market, with more than 75 percent of professional camcorders shipped in 2008 capable of shooting in HDV or better, according to the update.

Canon U.S.A. Inc., Lake Success, N.Y., announces Joe Adachi, president and chief executive officer, was promoted to senior managing director. Seymour Liebman, executive vice president, chief administrative officer and general counsel for Canon U.S.A., was appointed an executive officer of Canon Inc. by the company's shareholders and board of directors. Both executives will continue their posts at Canon U.S.A., in addition to their expanded roles with Canon Inc.

  Adachi joined Canon in 1970, working at Canon U.S.A. from 1978 through 1992. In 1998, Adachi was named president of Canon Canada, where he led the company through the transition from analog to digital products. Adachi was appointed president and CEO of Canon China in 2001 and rejoined Canon U.S.A. in 2005 as president and CEO.

  Liebman joined Canon U.S.A. more than 35 years ago as a manager in the accounting division. Liebman has helped the company transform from a provider of consumer and business analog products to a leader in digital imaging solutions for consumer, businesses and industrial markets, such as medical imaging, broadcast and video, says Canon. Liebman is the first non-Japanese Canon executive honored with this appointment. In his current position, Liebman is responsible for legal affairs and corporate administration functions for Canon Americas.