More on SCO's Chapter 11 Filing

In yet another chapter of what is one of the longest-running soap operas in tech today, the SCO Group has filed for voluntary Chapter 11 bankruptcy protection.

The timing of this filing -- the Friday before its trial with Novell was supposed to begin -- is seemingly based more on self-preservation than a lack of cash. The Chapter 11 filing stays that trial until the bankruptcy matter is resolved, if ever. It will also stay the upcoming IBM trial until its scheduled beginning should it remain in Chapter 11.

Legal analyst Roger Parloff suggests that SCO may have taken this action to try to gain the support of the bankruptcy court in its ongoing legal offensive. It's the responsibility of the bankruptcy court to maximize the value of the assets of the company, so Parloff speculates that SCO is hoping that the bankruptcy judge assumes jurisdiction for the trial that it has already largely lost in summary judgment. It's a long shot, he concludes, and may only delay the inevitable.

This Groklaw post, which lists everyone to whom SCO owes money, is interesting reading.

Posted by Peter Varhol on 09/18/2007 at 1:23 PM


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