Linked by Jordan Spencer Cunningham on Thu 7th May 2009 00:32 UTC
Remember SCO? They just don't know when to quit, do they? "The Department of Justice's Trustee program, which has finally had enough of SCO's stalling tactics and failed reorganization attempts, has filed a motion to transition the company to Chapter 7. SCO CEO Darl McBride says that the company will oppose the motion and will present a new reorg plan to the court."
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Member since:
2006-01-04
They are being switched from Chapter 11 (reorganization)to Chapter 7 (liquidation) because they have continued to lose significant volumes of cash and had no success with any of the plans they have attempted to promote. So it's going to be an auction rather than a sale per se. Oracle may get things cheaper by having a proxy bid on the items they are interested in.