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US Trustee Asks To Send SCO Into Chapter 7

Posted by kdawson on from the long-dark-teatime-drawing-to-a-close dept.

Several readers including Pop69 inform us that the US Trustee's office has asked to convert SCO's Chapter 11 bankruptcy to Chapter 7 — a.k.a. liquidation. Groklaw has the text of the filing: "...not only is there no reasonable chance of 'rehabilitation' in these cases, the Debtors have tried — and failed — to liquidate their business in chapter 11."

5 of 259 comments (clear)

  1. Re:Liquify what? by nairnr · · Score: 5, Informative
    Everything! Furniture, chairs, computers, bookcases. You name it, it goes. This is not so anyone can reorganize it into anything meaningful, this is so creditors get every last stinking dime out of them.

    If you have ever been to a liquidation of a store, after they sell you what is left on the racks, they sell you the racks,display cases, lights, left over toilet paper...

  2. Where's Darl now? by ZosX · · Score: 5, Insightful

    Don't worry. The SCO execs still made their money and are most likely very comfortable. Shame they never got investigated for insider trading when they started dumping their own stock, while filing waves of lawsuits, or is that legal? IP was the last leg their company had to stand on, and that was a shaky one at best. It is kind of sad that it took them this long to finally burn through all their cash on lawyers. Couldn't they have just called it a day and given the money to charity or something or maybe tried to reinvest in a new venture? Clearly they didn't see any sort of long term future for SCO. Does any still even actively license their craptacular "Unix" from them?

    --
    zosxavius photography
    1. Re:Where's Darl now? by lgftsa · · Score: 5, Insightful

      It is kind of sad that it took them this long to finally burn through all their cash on lawyers.

      That would be Novell's money you smell burning...

  3. Don't forget... by Anonymous Coward · · Score: 5, Funny

    ...to pay your $699 licensing fee you cock smoking teabaggers!

  4. I miss the old SCO by LostMyBeaver · · Score: 5, Insightful

    There was a point in time when there was an SCO (probably prior to 7 buy outs and name transfers) that actually focused on technology. I remember when their product, in my opinion was the best UNIX desktop if for no other reason, but they had a control panel while everyone else still used configuration files. It was a dream being able to change screen resolution without having to restart X.

    They also made some products in their Tarentella line which was a port of the Microsoft SMB stack and therefore was a MUCH MUCH better solution than the Samba of the time. In fact, management-wise, it might still be better. After all, when you can spend less time reverse engineering and hacking with compatibility problems you can spend more time on usability.

    I guess that company is long gone and what's going bankrupt now is just some predators who attempted to capitalize off the accomplishments of the old SCO.

    But Goodbye SCO. I miss you