[plug] SCO

[Senectus .]

2009/5/6 garry <garbuck at westnet.com.au>

> 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.
>
> Hmm interesting, I guess that the current economic climate really put the
last nails in the SCO coffin... had the yanks not wrecked the world with
dodgy accounting practices SCO may have lingered longer and fouled the air
for longer before finally dying properly.



-- 
Ubuntu Hardy 8.10
The ancients who wished to demonstrate illustrious virtue throughout the
empire first ordered well their own states.
Wishing to order their own states, they first regulated their families.
Wishing to regulate their families, they first cultivated their persons.
Wishing to cultivate their persons they first rectified their hearts.
Wishing to rectify their hearts, they first sought to be sincere in their
thoughts.
Wishing to be sincere in their thoughts, they first extended to the utmost
their knowledge. Such extension of knowledge lay in the investigation of
things - Confucius
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