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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.'"
... will SCO disapear? It's enough already.
Hiding important information has always been one of SCO's favourite strategies, right? (e.g. "Linux infringes on our IP, but we can't tell you where, how, or why.").
needawoodenstakethroughtheheart
undead
whywontyoujustdie
The press release stated that Stephen Norris Capital Partners was doing the deal, that it was a limited partnership, without specifying in which state, and it listed Norris as "managing partner" of SNCP:
"We saw a tremendous investment opportunity in SCO and its vast range of products and services, including many new innovations ready or soon to be ready to be released into the marketplace," said Stephen Norris, managing partner for SCNP....
About Stephen Norris Partners
Stephen Norris & Co. Capital Partners, L.P. is a private equity investment partnership formed to (i) "co-invest" alongside well established and successful private equity and leveraged buyout firms, (ii) take advantage of the business experience and relationships of its Investment Committee, including Steve Norris' long-standing relationships and substantial private equity experience.
While the press release says that SNCP is a partnership, the MOU says it's a deal between SCO and STEVE NORRIS CAPITAL PARTNERS, LLC and it defines SNCP as "Stephen Norris Capital Partners, LLC" and it further says it's a Delaware limited liability company ("Investment Team: Stephen Norris Capital Partners, LLC, a Delaware limited liability company ("SNCP").").
...you will never find a more wretched hive of scum and villainy.
Dog is my co-pilot.
Hey, with these guys, get your money now. The lawyers fees will eat it otherwise.
Totally amazes me how this takes so long to say what everyone believes, SCO - go-away. You have no claim nor future.
SCO was able to spew its fud at will in America, no proof required. In Germany they got slapped down. The German courts said in effect: "If you can't prove what you're saying is true, you have to shut up."
It is pathetic that SCO has been able to drag this farce out for so long.
that's when it will end.
if this is supposed to be a new economy, how come they still want my old fashioned money?
Here is the real story:
Legitimate businesses are dying for venture capital. And here it is, being wasted.
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.
Fair payback to the creditors helping to keep that turkey afloat. What, you thought they only were out to screw other people?
I know, I know, don't feed the trolls. . . but he's so cuuuuuutte.
Judge Kimball already found that there was never any transfer of copyright. SCO's copyright registration was fraudulent (well, I suppose you could make the argument that it isn't fraud if they really *believed* they owned the copyright, but nevertheless, it's still invalid). It's already been decided that SCO does not own Unix copyrights or trademarks (the trademark issue was not decided in court, I do not believe, but by the US Patent and Trademark Office, I believe, which said that Unix was already a trademark owned by the Open Group [which anyone could have told SCO, but they wouldn't listen, of course]).
Basically, SCO owns no part of Unix.
There's also the *small* problem that they've never actually demonstrated any infringement by Linux, even if they *did* own Unix. Which they don't.
This whole Bankruptcy charade, as far as I can tell, has mostly been about delaying the inevitable, so that SCO's execs and board of director could continue to get salaries and outrageous bonuses for as long as possible, bleeding the company dry and leaving a worthless, dessicated carcass for Novell, IBM, Red Hat, and Autozone to fight over.
I think all this court-related mumbo-jumbo should be dropped in favor of a more efficient way to settle things. Darl and Linus should meet in a forest, with witnesses from both sides. They should stand back-to-back, walk ten paces, turn around, and shoot. Darl should be given a water gun. Linus should be given a BFG-9000.
The fee was not $500. The fee was $699, you cock smoking tea bagger.
Fascism trolls keeping me up every night. When I starts a preachin', he HITS ME WITH HIS REICH!
The Lady falls in love with a Snake, and she invites him into her home.
The Snake bites her, and hurt and horrified, she cries, "I will surely die! Why? Why did you bite me?"
"But my dear," the Snake replied, "I am a Snake, and you should have known better."
Moral of the story? Same as every other. . . "Ignorance Endangers."
-FL
PAY YOUR $699 LICENSE FEE, YOU COCK-SMOKING TEABAGGERS! Is I believe the correct syntax for the troll you are attempting.Please,in the future,learn how to troll correctly or go to digg.We here on slashdot have high standards when it comes to our trolls,and many of our trolls go on to exciting careers in such fields as Microsoft zealotry and Comcast management.So in the future please uphold the high standards set before you by distinguished alumni like the GNAA and the guy that makes ASCII goatsx drawings.Thank you for your time.
ACs don't waste your time replying, your posts are never seen by me.
...to pay your $699 licensing fee you cock smoking teabagger
Fixed
Make SELinux enforcing again!
You must be new here :)
Just let him use the same old foot gun. We all know he just can't miss with that piece of iron.
Another poster pointed out awhile back that another reason for this buy out of SCO is to keep its internal records from becoming public.
The whole thing is just a ploy to shield all those internal emails and documents that would reveal just who was really behind it all, we all know that M$ is in on it but who else could there be? What other companies or business interests have benefited from the FUD that SCO has generated?
By buying SCO and taking it back to a privatively held company it could be quietly dismantled and the evidence of collusion and conspiracy buried permanently.
In Other News, Capitalizers all around the World rejoice when the Definitive Documents will not be Heard of, or Seen, before the Disclose Statement has been passed before the Council of the Upper Case. Shift key Users all around the Planet will express their Utmost Pleasure at the Revealing of the Plan. Dr Evil, in the mean time, who is an Ardent Caps Lock Aficionado, will make all Debtors Disappear. It's That Easy.
Religion is what happens when nature strikes and groupthink goes wrong.
It was and continues to be a total SCO deal. The money they extorted from Sun and Microsoft is pretty much in line with other IPR ransom demands. IBM has so far spent at least $100 million litigating this one, Novell at least $10 million. IBM could have settled for less than they have spent, Novell had no reason to get involved at all.
I can promise you that when you get one of these demands, you don't think 'maybe I should pay so these people will go screw over someone else'. Instead its 'I really wish someone would stand up to this scum, pity its not going to happen'.
Anyone care to imagine what the Slashdot consensus would have been if Microsoft had chosen to stand and fight on this one and IBM had settled?
The mistake SCO made was to demand money from a company that simply could not settle the case at any price.
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