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SCO is going into chapter 7





darthrevan
From http://groklaw.net
Quote:

SCO's Chapter 11 trustee has removed that hat, filed his final report [PDF] in that capacity, including the monthly reports for August up to the 24th, when the conversion became official, and has now put on his Chapter 7 bankruptcy trustee hat.

SCO lists $82,431 in cash on hand on the conversion date. That means some of you reading this now have more money than SCO.

I'll bet you don't owe as much, though. There is a list [PDF] of all the to-date-stiffed entities and individuals, or more precisely a list of "unpaid debts incurred after filing of original petition to date of conversion" to Chapter 7, meaning from September 14, 2007 through August 24, 2012. The August monthly report lists a total of $7,187.786 in professional fees paid since the bankruptcy began, plus $492,981 in expenses, so this list is in addition to that.


I don't know if any of you have followed the SCO vs Novel in the case against Linux. In short SCO alleged that IBM put UNIX code into Linux, but also filled against Novell because it claimed that it owned the UNIX copyrights and not Novel. Well of course SCO was told it was wrong. Now SCO has gotten into so much debt that it is now forced into Chapter 7 bankruptcy.

I am personally glad to see this company go, some people believed that SCO was doing this in hopes of a company buying them out like Caldera did. I don't see why SCO did this in reality, it's stock was up when it was contributing into Linux, but once it started to fight Linux, its stock went down.
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