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What Happens to SCO Next? -- Some Possibilities

Aug 03, 2009, 20:31 (2 Talkback[s])
(Other stories by Pamela Jones)

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"This started with three motions to convert SCO to Chapter 7 from IBM, Novell and even the US Trustee's Office. As an urgent alternative, SCO said it wanted to sell some of its assets to unXis in a private sale, while retaining what it needs to continue the anti-Linux litigation, something it sprung on everyone as a last-minute surprise at the hearing on June 15.

"The proposed sale agreement was followed by objections from IBM and Novell and then a hearing on July 27th to sort it all out. Reports from the hearing seem to confirm that there isn't money guaranteed by unXis or by any investors it may have found, nothing that compels them to come through, and a second possible buyer showed up, LNS Acquisitions, and it wants a chance to bid, and likely that's part of why SCO is now "agreeing" to an auction that appears inevitable, if any sale at all is allowed at this point, whether SCO agrees or not.

"After the July 27th hearing, which didn't go very well from SCO's point of view, judging from reports, SCO sent the judge a letter suggesting "the appointment of an examiner to oversee the sale should the Court so direct. The Debtors agree to the involvement of an examiner under 11 U.S.C. § 1104 to advise the Debtors' board and to report to the Court on the sale process and the outcome of any auction."

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