Slashdot Mirror

← Back to Stories (view on slashdot.org)

SCO Preps Appeals Against Novell and IBM

Posted by samzenpus on from the harder-to-kill-that-the-tarrasque dept.

An anonymous reader writes "It looks like SCO will be emerging from the almost dead soon, with new owners and $100 million on board. SNCP is adjusting the business strategy, according to this report on TG Daily, SCO is saying goodbye to CEO Darl McBride and is also preparing to appeal the summary judgments in the cases against Novell and IBM. If you have thought the chapter was closed, think again. Those $100 million can go a long way (even if SCO has to pay 17% interest on it)."

6 of 163 comments (clear)

  1. Doesn't the sale have to be approved first? by MintMMs · · Score: 5, Informative

    Doesn't the bankruptcy trustee have to approve the sale first? The article sounds like this is already a done deal.. Dang, I need to start reading Groklaw again.

  2. Bad summary by schon · · Score: 5, Informative

    They won't be emerging from the almost dead, and they won't have $100M, and it's not 17%

    They're still almost dead - this deal doesn't change anything about the fact that they owe a ton of cash to Novell, and will soon owe more to IBM.

    The $100M is really $5M, plus a LOAN of *up to* $100M.

    And the loan's interest rate is 17% plus prime (so closer to 21%.)

    This is like you claiming that MBNA invested $50,000 in you when you signed up for a new credit card.

  3. Inaccurate subject by EssenceLumin · · Score: 5, Informative

    First of all this is at least a few weeks old. Check Groklaw. Second they are not giving SCO $100 mil outright. They are giving $5 mil with an option to loan another $95 mil over 5 years.

  4. Re:What the hell? by renegadesx · · Score: 5, Informative

    Serious answer: Apparently this is Saudi money.
    However the jury is still out on weather this is another Microsoft thing like BayStar
    http://www.eweek.com/c/a/Desktops-and-Notebooks/Whats-Behind-the-SCO-Buyout/ SJVN's oppinion incase you are interested

    --
    Make SELinux enforcing again!
  5. Will they even get an appeal by dmgxmichael · · Score: 5, Informative

    I don't care how slick the lawyer is, SCO had a summary judgment against them. Provided the judge in the case dotted all the i's and crossed all the t's those things are damn near impossible to successfully appeal. I'd put the odds against successful appeal at 20 to 1. More likely than not the appeals court will simply say, 'No' and that will be the final whimper of SCO.

  6. who cares yet? this is not factual. by poetmatt · · Score: 5, Informative

    Just a FYI, this deal has not been approved. So all this "SCO is going to be saved" stuff, has no factual basis whatsoever. Bankruptcy court would have to approve of it, and that is not likely at all. So the slashdot article here = incorrect.