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Creditor Objects To SCO's Plans
I Don't Believe in Imaginary Property writes "It seems that SCO is never without a trick up its sleeve. In the new '$100 million' reorganization plan, $5 million of which is cash and $95 million credit, one of the creditors is protesting because SCO is hiding the Definitive Documents until there's no time to object. In their own words, 'The debtors are proposing to file the Disclosure Statement 33 days before the hearing, in compliance with the requirement that it be filed at least 25 days before the hearing (F. R. Bankr. P. 3017). However, it is clear that this Disclosure Statement will be inadequate for evaluating the Plan, because it will not include any of the Definitive Documents. The Debtors are proposing to file the Definitive Documents separately, and to do so a mere five business days before the hearing, which is zero days before objections are due.'"
that's when it will end.
if this is supposed to be a new economy, how come they still want my old fashioned money?
It's still news because the LP offering to buy them is doing so in order to continue the linux litigation that got SCO into this current situation. No surprise, there's a lot of speculation that Microsoft is somehow behind the sudden desire of this LP to acquire SCO and continue the litigation since it helps to continue a FUD campaign that Microsoft would love to see continue.