Chapter 11 Trustee Appointed For SCO

I Don't Believe in Imaginary Property writes "The judge overseeing the SCO Chapter 11 bankruptcy case has issued an order appointing a chapter 11 trustee to oversee SCO's operations. However, the judge's reasoning is far from clear. While the judge believes that SCO has 'abandoned rehabilitation' to bet its future on litigation, he doesn't think it appropriate to convert their case to Chapter 7 liquidation. So SCO's management hasn't been fired yet, but they're no longer fully in charge either. It's not clear why the bankruptcy judge opted for this solution, when even the US Trustee was pushing to fire SCO's management and convert the case to Chapter 7. In short, SCO is still only mostly dead, rather than all dead, and in desperate search of a miracle worker."

Comments

I wonder what incentivized or motivated that judge

[davidsyes]

to keep that SCOkenstein (SCO Frankenstein) ventilated.

If he thinks the company is beyond rehabilitation, then if the effer is brain or lung dead (mostly dead, not fully dead per submitter?), pull the plug. Why keep SCOkenstein writhing or huckin' and buckin' on 5 amps and 200 volts when the skull-cracked hodge-podge needs (or wants) to neck-suckle on 40 amps and 50,000 volts. It's just keeping open doors to the court and a drain on public resources. (Tell them to go find a power transmission tower, bite it, & blacken their asses like toast. Maybe SCO should get into the energy deliver business?) What's SCO anyway these days? Seems like a twig or tumbleweed blowing around trying to snag something, or an alien husk awaiting seminal insemination to resurrection. Right now, they've got their damned terminals reversed.

Vampires Running the Bloodbank

[DynaSoar]

" It's not clear why the bankruptcy judge opted for this solution..."

A great many of the gyrations of the case since the crack legal team that defended them came on board, as well as many to come, will make much more sense if you remember one salient point: the deal with the lawyers was that if SCO won, they'd get a cut of the winnings, but if SCO lost, they'd get a cut of the corpse.

What judge is going to order that his fellow court officers' income for a job well done get cut out of their deal? As long as it has the appearance of restructuring they can drain the coffers dry and force SCO to keep filling them as long as it has blood to let.