SCO Springs a Prospective Buyer

clemenstimpler sends a link to Groklaw, which has been following the proceedings dealing with the conversion of SCO's bankruptcy to Chapter 7 (i.e., liquidating the company). SCO has announced a prospective buyer. "...SCO has suggested it has a buyer. That doesn't mean it will avoid Chapter 7 of course, nor does it mean that the bankruptcy court will OK the suggested sale. But it likely does mean more delay, which is what this is likely all about. SCO very much wants to wait until the appeals court rules in SCO v. Novell. ... Hearing set for July 16 with backup for July 27. SCO has already moved to make it July 27. combo hearing on convert and sale. Frankly, it would not totally amaze me if the three entities that filed motions to convert were to appeal this. If not, SCO got its desired delay."

Comments

Re:Paging Buffy Summers...

[Dhalka226]

Hopefully as the article suggests, the sale will be forestalled, and some judge will finally put a stake in this monster once and for all.

I doubt it. A bankruptcy judge's job is essentially to ensure that SCO's creditors get the maximum amount of money back under the law. From that perspective, liquidation tends to be a fairly lousy solution, particularly for companies deeply in debt. A buyer is, of course, the best solution: Somebody willing to assume that debt and, hopefully, turn the company around to making some money again. Then it can start to pay back its creditors and if it falls apart again, well, you're just right back at the liquidation stage -- little lost but time.

So unless the judge can determine this is nothing but a bullshit stalling tactic on the part of SCO--and I doubt any judge would do so without at least a hearing or two on the matter--they're almost certain to let it pass.

One

[Yvanhoe]

One hop :
http://www.infoworld.com/t/platforms/sco-strikes-gold-verizon-just-strikes-728
Microsoft bought $6 million of "licenses" to SCO in 2003.