Linked by Thom Holwerda on Mon 19th Oct 2009 19:13 UTC, submitted by SReilly
Darl McBride. It's the guy everybody hates. Well, he is no longer in charge of SCO, the UNIX vendor who relentlessly litigated against Linux vendors: he has been fired as part of the Chapter 11 restructuring plans for the company. Sadly, the litigation does not end with him, as SCO's new leadership has said in a statement they will continue the litigation.
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Member since:
2006-01-27
SCO is in Chapter 11 bankrupcy. Although Chapter 11 can lead to liquidation in some cases (Circuit City), it's commonly known as "Reorganization Bankruptcy" and is a method used to weasel out of paying creditors - getting a fresh start as a 'new' company. If reorganization is successful SCO could cancel the old stock, issue new stock to raise capital, and continue business as usual. Northwest Airlines, KMart, and many other companies have emerged from Chapter 11 and continue business today.