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 Hans
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Re: SCO Files for Chapter 11 Bankruptcy
Posted on 17-Sep-2007 17:52:36
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Elite Member
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Joined: 27-Dec-2003
Posts: 5098
From: New Zealand | | |
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| I guess that means that the anti-Linux lawsuit really was their only business plan.
Hans
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Fransexy
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Re: SCO Files for Chapter 11 Bankruptcy
Posted on 17-Sep-2007 17:56:14
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Elite Member
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Joined: 8-Jun-2004
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From: Elche (Alicante), spain | | |
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| I guess that means that the anti-Linux lawsuit really was their only business plan. |
That remembers me a certain company that we all know 
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OldFart
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Re: SCO Files for Chapter 11 Bankruptcy
Posted on 17-Sep-2007 17:56:18
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Elite Member
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Joined: 12-Sep-2004
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From: Stad; en d'r is moar ain stad en da's Stad. Makkelk zat! | | |
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| I guess that means that the anti-Linux lawsuit really was their only business plan. |
Wasn't Microsoft pulling the strings in that lawsuit?
OldFart
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NomadOfNorad
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Re: SCO Files for Chapter 11 Bankruptcy
Posted on 17-Sep-2007 18:05:15
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Cult Member
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Joined: 2-Jun-2003
Posts: 750
From: Jacksonville, Florida, USA, Earth, Sol system, Milky Way galaxy | | |
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| Couldn't have happened to a nicer bunch! 
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SpaceDruid
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Re: SCO Files for Chapter 11 Bankruptcy
Posted on 17-Sep-2007 18:15:34
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Super Member
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Joined: 12-Jan-2007
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From: Inside the mind of a cow on a planet that's flying through space at 242.334765 miles per second. | | |
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| M$ also lost out big today in its Monopoly case in the EU (As an aside).
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fryguy
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Re: SCO Files for Chapter 11 Bankruptcy
Posted on 17-Sep-2007 19:27:55
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Cult Member
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Joined: 6-Dec-2003
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Colin_Camper
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Re: SCO Files for Chapter 11 Bankruptcy
Posted on 17-Sep-2007 19:35:34
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Super Member
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From: Unknown | | |
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Hans
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Re: SCO Files for Chapter 11 Bankruptcy
Posted on 17-Sep-2007 20:16:14
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Elite Member
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Joined: 27-Dec-2003
Posts: 5098
From: New Zealand | | |
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I guess that means that the anti-Linux lawsuit really was their only business plan.
Quote:
| Wasn't Microsoft pulling the strings in that lawsuit? |
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Most likely. Their (cash) incentives were probably factored in the business plan.
Hans
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Darth_X
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Re: SCO Files for Chapter 11 Bankruptcy
Posted on 17-Sep-2007 21:51:27
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Joined: 1-Jun-2003
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From: Vancouver Island, Canada | | |
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Hans
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Re: SCO Files for Chapter 11 Bankruptcy
Posted on 17-Sep-2007 23:02:03
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Joined: 27-Dec-2003
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From: New Zealand | | |
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| @Darth_X
Actually, chapter 11 bankruptcy doesn't mean bye bye. IIRC, they get to restructure, and will either be sold off in one piece, with creditors getting the proceeds from the sale; or, they just keep on operating, with their creditors becoming part owners.
Hans
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Colin_Camper
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Re: SCO Files for Chapter 11 Bankruptcy
Posted on 17-Sep-2007 23:15:46
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Super Member
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Joined: 6-Jul-2003
Posts: 1188
From: Unknown | | |
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| Actually, Scamiga make SCO look like the good guys! |
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CodeSmith
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Re: SCO Files for Chapter 11 Bankruptcy
Posted on 17-Sep-2007 23:58:35
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Elite Member
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Joined: 8-Mar-2003
Posts: 3045
From: USA | | |
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| So, are SCO now bankrupt or insolvent? |
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royleith
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Re: SCO Files for Chapter 11 Bankruptcy
Posted on 18-Sep-2007 14:15:45
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Cult Member
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Joined: 31-Jul-2003
Posts: 766
From: UK | | |
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| @ CodeSmith
Quote:
| So, are SCO now bankrupt or insolvent? |
No and no. They have petitioned for Chapter 11 bankruptcy which would allow them to make deals with creditors and reorganise into a viable business. Their most recent report to the SEC shows them as having roughly twice the assets as they have liabilities so they are not technically insolvent.
However, they had just lost a summary judgement, bigtime, to Novell which meant that they had up to $40M of Novell's money (not a debt, actually Novell's dosh). This would dispose of every last dollar of a liquidated SCOG. If that was not enough, the Novell court order left IBM and Redhat free to extract enormous damages in their own court cases. Novell have just asked the bankruptcy court if five of the top US BK lawyers can represent them in the proceedings. They make the IBM and Novell team we have seen so far look like fluffy bunnies.
The smart money is that either they will be refused bankruptcy altogether for gaming the BK system and that would open up the principals of the company to being sued for everything they own or that the BK court would put them straight into Chapter 7 in which the company is liquidated, the assets sold off and the money distributed among the creditors.
SCOG is an ex-company. Just 'cos it's walking about at the moment means nothing.
Regards
Roy Leith |
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