On 03/31/2010 02:45 PM, Bill McGonigle wrote: > Why wouldn't the judge allow the cases to proceed, even into Chapter 7? > Does SCO simply have no assets left that could be sold to restitute > these alleged aggrieved? > The only reason that the SCO vs. Novell case was allowed to proceed is that part of the case involved significant royalties from Sun and Microsoft that were possibly owed to Novell which also affected creditor status. The copyright issue was part of the case. In a Chapter 11, the firm must be able to show that it is a viable business. If the business is not viable, then Chapter 7 rules. There were a couple of potential buyers who did say they would continue the litigation. I think we will see a few motions posted in the bankruptcy court. IBM and Novell might petition for force SCO into chapter 7, Red Hat may petition for a lifting of the stay. If SCO is moved into chapter 7 AFAIK, they cannot proceed with the litigation. This is one reason why Judge Cahn was appointed as Chapter 11 trustee, and Judge Gross might have been convinced by the SCO attorneys that there was value left in the business.
There is a bankruptcy hearing scheduled for next Wednesday, April 7th, and I think we will see a few interesting motions filed before then. Since both IBM and Novell have filed their motions before, they may get their attorneys to brush off the dust and refile. But, things have surprised us before. I mentioned Ralph Yarrow because he is currently Chairman of the Board and the largest SCO stockholder. He was there when it was Caldera. He is why, IMHO, that SCO is still in chapter 11 and not chapter 7, and I don't think that Judge Cahn will move to place SCO into chapter 7 yet, but Cahn is a trustee responsible to the creditors and not to the SCO BoD. I think all the parties involved are going to let PJ party this weekend. -- Jerry Feldman <g...@blu.org> Boston Linux and Unix PGP key id: 537C5846 PGP Key fingerprint: 3D1B 8377 A3C0 A5F2 ECBB CA3B 4607 4319 537C 5846
signature.asc
Description: OpenPGP digital signature
_______________________________________________ gnhlug-discuss mailing list gnhlug-discuss@mail.gnhlug.org http://mail.gnhlug.org/mailman/listinfo/gnhlug-discuss/
