They have gone Chapter 11.
http://biz.yahoo.com/prnews/070914/laf040.html?.v=101
http://www.groklaw.net/article.php?story=20070914152904577
**EDIT**
See also the previous thread SCO Implodes (http://clockworkmansion.com/forum/index.php?topic=3211.0)
Quote from: Tapewolf on September 14, 2007, 04:33:09 PM
They have gone Chapter 11.
http://biz.yahoo.com/prnews/070914/laf040.html?.v=101
http://www.groklaw.net/article.php?story=20070914152904577
Bound to happen sooner or later.
I saw that and was considering whether it warranted a new topic.
The stock chart was fun to see. When I left my apartment, it was above .60, and when I came back and checked the close, it was at .3 something, but the Yahoo! chart hadn't updated. When I looked at the medium size chart, the thing stayed at around .60 for most of the day, and then it just dropped.
Something must have happened, says I. And bankruptcy! Glee!
Of course, this means that the trial will probably be delayed even longer.
Quote from: superluser on September 14, 2007, 04:50:42 PM
I saw that and was considering whether it warranted a new topic.
I would have added it to the old one, but it's a month old and I wasn't sure if dredging it up like that would be virtuous.
**EDIT**
Now this really beggars belief:
http://biz.yahoo.com/prnews/070830/lath046.html?.v=101
I guess the.... part... of this event that surprises me is that I expected more phone calls, more whoopin and hollering, breaking out the champagne, and so on...
but, now that they've actually filed for bankruptcy...
All I see is another legal tactic. Next Monday is when I think they were set for a judge to decide how much they actually owed Novell. By filing for bankruptcy they can stand up in court with a straight face and tell the judge they are bankrupt, they have no money or anything to satisfy Novell.
Thus, SCO is effectively protected from having to pay off their bills, debts, and other items while pursing their legal strategy.
What would be justice is if the judge states that they cannot pay Novell, then all of their assets and property are forfieted to Novell. I'd love to see the bankruptcy move blow up in SCO's face like that...
Quote from: Tapewolf on September 14, 2007, 04:54:44 PM
I would have added it to the old one, but it's a month old and I wasn't sure if dredging it up like that would be virtuous.
According to the rules, "make a new one and put in a link to the old one"
Although in actual fact, the mods will accept either, as long as it's actual content. Random waffling gets stomped on.
Quote from: Tapewolf on September 14, 2007, 04:54:44 PMI would have added it to the old one, but it's a month old and I wasn't sure if dredging it up like that would be virtuous.
I was hoping to add it as a PS to the New Computer Problems Thread.
Cool note: if you search for ``Chapter 11'' on Google News, SCO's bankruptcy is the #1 result.
Anyways, it's pretty much over for SCO at this point, because there's no way that they can raise enough capital to continue the lawsuit on their own (even after they emerge from bankruptcy), and the bankruptcy supervisor (or whatever it's called) will have to see the case before deciding to continue the litigation in SCO v. Novell. And if (as we suspect) there's nothing there, the supervisor will probably drop the case.
Quote from: superluser on September 14, 2007, 05:31:36 PM
the bankruptcy supervisor (or whatever it's called) will have to see the case before deciding to continue the litigation in SCO v. Novell. And if (as we suspect) there's nothing there, the supervisor will probably drop the case.
Don't forget the IBM countersuit...
Quote from: Tapewolf on September 14, 2007, 06:06:50 PMDon't forget the IBM countersuit...
Which can't go forward until Novell v. SCO is over.
Edit: and it looks like it's official. There will be no trial on Monday (http://www.news.com/8301-13580_3-9778778-39.html).