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SCO Has a Bid; Would Like More

Oct 24, 2007, 21:00 (0 Talkback[s])
(Other stories by Pamela Jones)

"SCO has filed a Motion to Approve Emergency Motion of the Debtors for An Order (A) Approving Asset Purchase Agreement, (B) Establishing Sale and Bidding Procedures, and (C) Approving the Form and Manner of Notice of Sale. It asks the court to let it happen. There are more filings, which I'll put up here shortly, but I was pretty sure you'd want to know about this one immediately.

"SCO wants to sell off certain of its Unix assets, namely 'certain related claims in litigation, as well as certain transfer, cross-license and related agreements pertaining to the Hipcheck product line and Me Inc. Mobile intellectual property.' They say York Capital Management wishes to buy them. Or, more precisely, the Purchaser is 'a newly formed entity affiliated with one or more funds managed by JGD Management Corp. d/b/a York Capital Managment...'"

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