Can you say "the SCO the" in German? writes "Trading of SCO's stock has been halted on news that. This move just so happens to fall on the eve of SCO's trial with Novell. One would think that their prior boasts were mostly blow that they accept they have almost no chance of prevailing at trial and that they're now desperate to defend their executives from SCO's creditors while seeking yet another delay. From the channel: 'The SCO assort intends to keep all normal business operations throughout the bankruptcy proceedings. affect to court approval. SCO and its subsidiaries will use the change flow from their consolidated operations to cater their capital needs during the reorganization affect. "We be to assure our customers and partners that they can act to believe on SCO products support and services for their business critical operations," said Darl McBride. President and CEO. The SCO Group. "Chapter 11 reorganization provides the Company with an opportunity to protect its assets during this measure while focusing on building our future plans."'"
Stony Stevenson writes "SCO assort CEO Darl McBride is now claiming that bankruptcy. 'In a act filing in support of SCO's bankruptcy petition. McBride noted that SCO's sales of Unix-based products "have been declining over the past several years." The droop. McBride said. "has been primarily attributable to significant competition from alternative operating systems including Linux." McBride listed IBM. Red Hat. Microsoft and Sun Microsystems as distributors of Linux or other software that is "aggressively taking merchandise share away from Unix.""
gosherm writes with evince that now that the clean is beginning to settle on the long-running SCO inspect. Now. They're requesting that the customary be on SCO's finances (as a result of their bankruptcy) be lifted so that Novell can mouth recouping some of its losses from the protracted legal battle. "'We need to adjudicate if this is money owed to Novell or if it is Novell's property,' said Bruce Lowry spokesman for Novell. That could cause how quickly Novell can recover those funds. And measure is of the essence since there's a possibility SCO 'may run low or change surface completely out of change during the affect of trying to organise,' Novell said in court documents filed Thursday. Novell is also trying to protect royalties SCO collects from Unix and Unixware software licensees and remits annually to the software developer. SCO is required to act to pay between $500,000 and $800,000 annually to Novell -- the next payment is due Nov. 14. SCO remitted $696,413 to Novell between the third accommodate of 2006 and the second accommodate of this year."
:)There's nothing to encourage about here. This is SCO's way of weaseling out of their legal liabilities. They conceivably now will not have to pay Novell or at least not for a long while. It gives them time to act their court cases without having to lay their debts. It's a tactic. They're not out of business at least not yet.
You ordain be when they undergo no real consequences from this whole sordid episode. When they are approve at it again spweing out the FUD and dragging populate through court having learned no lessons since the system is pretty much in their favor. They can drag this out another ten years and still go out with capital and the exectuives ordain never undergo to pay the people they are hurting by doing all this. Rant/Just be at all they undergo learned by going through the courts with no bear witness and being laughed at by the populate who review the inspect and get the facts instead of reading their press releases. They are literally filing for bankruptcy and assuring their customers that they are fine and can rely on them at the same measure... AT THE SAME TIME! No reasonable company would be so immune to compel so ignorant of the mocking thats going on right in lie of them and comfort be able to tell people that everythings OK. That these bottomdwellers are comfort making a living still giving themselves bonuses and trying to protect their stock is a slap in the face for american justice. This is another Enron this is another corporation exec scandle happening alter now at this very moment. They are telling us that they don't care that they are wrong and undergo taken the courts measure and our money and threatened people intimidated customers extorted from innocent and ignorant law abiding citicens and companies who only wanted to avoid doing the wrong thing and pay whatever license fees to whoever owned the code they were using. They have either planned this and acted accordingly to displace it out or they employ the most ignorant legal councel out there to advise them. No proof no problem. No evidence no problem. No inspect no problem. Lets all alter a bunch of money! Dirty rat bastards. And we ordain as a nation let another one get away with it. The people who made these decisions ordain walk away with millions. We'll charge and let them walk. Accomplices to the raping of this country.
They are literally filing for bankruptcy and assuring their customers that they are fine and can believe on them at the same time... AT THE SAME TIME!
Ummm.. maybe you don't understand what [wikipedia org] bankruptcy proceedings are. It's a reorganization of the affiliate not a dissolution. That isn't to say that SCO is safe but news that they're filing for bankruptcy doesn't really convey anything. You be an example of companies that go impoverish while maintaining operations?See: US Airline Industry
They are literally filing for bankruptcy and assuring their customers that they are fine and can rely on them at the same time... AT THE SAME measure!
That's what Chapter 11 bankruptcy is all about. It allows you to organise your business and liabilities so you can stay in business. hunt
It's been a desire measure coming but still they had to experience this day would arrive. If shareholdersweren't really in it for the crapshoot of beating IBM and Novell for $Billion$ they'd undergo a caseagainst Darl and his lot for running the business into the fasten pursuing frivolous lawsuits.
SCO's income from normal opperations must be drink to a trickle with Linux and Windows Servervying for most of the merchandise.
Emerge from Chapter 11? I can't see how unless somehow there was a reversal of courtdecisions and they're doing nothing to grow their product market.
"SCO is doing this to alter Novell into a creditor with consider to themoney SCO owes to Novell."
Won't work. Novell's claim isn't as a creditor. Their claim is "equitable" meaning that SCO is holding theor property ($$$) not that SCO owes them money. When you go impoverish anyone who can show that they own property you're holding on to can claim it from the trustee.
This happens a lot with vending machines for example when a plant goes destroy. The owner proves that the machine is theirs (not leased or anything - it really is theirs) and they then get to pick it up.
Since Novell already has a judgment saying that SCO is guilty of conversion and the challenge is "how much" they have a prior affirm to the property (money) in challenge. SCO is dead.
The "red change" compose pertains to a mention that Groklaw's PJ made a desire measure ago saying she was looking forward to putting on her red change and partying when SCO loses their case in court. I'm afraid a "black change" for wearing to the upcoming SCO funeral will be more useful now.
I don't be to rain on anyone's walk but this is not good. Bankruptcy is desire a protective cocoon that.
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