Slashdot Mirror

← Back to Stories (view on slashdot.org)

Creditor Objects To SCO's Plans

Posted by ryuzaki0 on from the dance-in-the-old-dame-yet dept.

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.'"

10 of 108 comments (clear)

  1. Surprise anyone? by KingKaneOfNod · · Score: 5, Insightful

    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.").

  2. Tagged: by calebt3 · · Score: 5, Funny

    needawoodenstakethroughtheheart
    undead
    whywontyoujustdie

    1. Re:Tagged: by Fantastic+Lad · · Score: 5, Insightful
      Knowledge is power. Knowledge shared is power lost.???

      Speaking of tags. . .

      Holding knowledge of another's dark secrets is one of the foremost ways the game of politics is played.

      I remember knowing the daughter of a political figure who had taught her well; he took her out drinking often when she was only a young teen so that she could build up a high tolerance to alcohol. He taught her how to dig up secrets in her opponents, and he taught her how to corrupt her fellows so that they would have secrets to fear losing control of. He was grooming he for political life; in short, he taught her the ways of Fear.

      Early on when I met her, I told her that my way of living was to remain open about everything; there was no secret I would be too frightened to share, and in this way, there was no way I could be bound or controlled. I saw fear in her eyes when she looked at me then, and I didn't understand why until I got to know her better.

      I have seen more harm arise from secrets kept than I ever would have imagined possible. And I have seen the most ludicrous acts which would normally be sorely condemned by society, not only easily forgiven but benefited from by entire communities simply because the participants were never afraid to share their thoughts and actions openly.

      In this way, knowledge shared is power gained, and that is the only kind of power one really needs, because Good Guys don't play chess.

      Just some thoughts.


      -FL

  3. Yes, well... by djupedal · · Score: 5, Informative

    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").").

  4. It's a flaw in the American judicial system by Anonymous Coward · · Score: 5, Insightful

    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.

  5. get two more creditors and press for chapter 7 by swschrad · · Score: 5, Interesting

    that's when it will end.

    --
    if this is supposed to be a new economy, how come they still want my old fashioned money?
  6. Here is the real story by Anonymous Coward · · Score: 5, Insightful

    Here is the real story:

    Legitimate businesses are dying for venture capital. And here it is, being wasted.

  7. Re:News? by Iphtashu+Fitz · · Score: 5, Interesting

    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.

  8. Fraud by JSBiff · · Score: 5, Insightful

    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.

  9. Settle it more efficiently! by rice_burners_suck · · Score: 5, Funny

    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.