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Insolvent SCO Scraps Its Reorganization Plan

Apr 03, 2008, 14:15 (2 Talkback[s])
(Other stories by Steven Church)

"SCO Group Inc., the Utah County-based bankrupt software developer that claims to own copyrights to the Unix operating system, has scrapped a $100 million reorganization plan after its financial sponsor asked for a new deal.

"Instead of buying $5 million in new SCO stock and loaning the company $95 million, Stephen Norris & Co. Capital Partners LP is negotiating a purchase of the assets, SCO attorney Arthur Spector said at a court hearing Wednesday in Wilmington, Del..."

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