[plug] SCO

[garry]

http://www.groklaw.net/article.php?story=2009050519075131

 From above:

Here it is, the moment many of you have been waiting for: the U.S. 
Trustee's office, through its counsel Joseph J. McMahon, Jr., has filed 
a motion in the SCO bankruptcy proceeding to convert the SCO's Chapter 
11 to Chapter 7. And I think this will be your favorite sentence:

    Additionally, not only is there no reasonable chance of
    "rehabilitation" in these cases, the Debtors have tried — and failed
    — to liquidate their business in chapter 11.

So what's left? Dismissal or, more logically, Chapter 7. SCO's been in 
Chapter 11 as long as it's supposed to be, and it's tried three times to 
figure out a "rehabilitation" plan, and nothing panned out. Meanwhile, 
SCO reports a net negative cash flow of more than $3.5 million in its 
March 2009 report. $3.5 million since the bankruptcy was first filed in 
September 2007, and that represents cause to switch to Chapter 7, the 
Trustee's Office argues, due to "substantial or continuing loss to or 
diminution of the estate and the absence of a reasonable likelihood of 
rehabilitation." That's $3.5 million that could have been paid to Novell.


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We all knew it would come, but it is good to see it finally...