Insolvent SCO Scraps Its Reorganization Plan

“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,