WHITE PAPERS SPONSORED PROFILES JOB BOARD WEBINAR CENTER FREE SOFTWARE BZ RESEARCH ALMSHAREPOINT EVENTS CALENDAR PRINT/PDF EDITION PRINT/PDF BACK ISSUES

SUBSCRIBE TODAY CUSTOMER SERVICE EDITORIAL CALENDAR EDITORIAL BEATS GUEST VIEW GUIDE SD TIMES 100 GUIDE EVENTS CALENDAR ADVERTISING ARTICLE REPRINTS REPORT A BUG SITE MAP

ABOUT US BZ MEDIA NEWS BZ RESEARCH NEWS ON MONDAY SPTECHREPORT SPTECHWEB SPTECHCON IPHONE/IPAD DEVCON ANDROID DEVCON PRIVACY POLICY CONTACT US

HOME >> LATEST NEWS

SCO to file bankruptcy plan tomorrow

By Jeff Feinman

December 30, 2008 — (Page 1 of 2)
After a great deal of courtroom drama and mounting legal fees, the SCO Group is expected to file its Chapter 11 bankruptcy plan in court tomorrow. Jeff Hunsaker, SCO’s president, wouldn’t provide exact details of the plan, but he said the reorganization will hopefully help the company come out of Chapter 11 bankruptcy, which the company filed for in September 2007.

Utah-based SCO has been up to its ears in legal battles over the years, a notable one being a suit against Novell over who was the true owner of Unix. In August 2007, a U.S. District Court Judge ruled that Novell had retained the copyright to Unix after a 1995 agreement with SCO, declaring Novell the owner of Unix.

Jeff Hunsaker

In November 2008, a federal court judge issued a final judgment in the case, reiterating much of the original order. As part of the order, Novell was granted an award of US$2.5 million, which was increased by $918,122, plus $489 per day after Aug. 29, 2008.

One analyst said SCO is on life support as they may struggle to come up with enough money to pay such a debt.

“We’re running into a year where getting financing or investors is going to be pretty tough, even for companies in pretty good shape,” said analyst Rob Enderle. “Getting SCO out of bankruptcy is going to be difficult.”

Enderle added that once Novell was declared the owner of Unix, the foundation of SCO’s legal actions against other companies was taken away. Unless the company is able successfully appeal the decision, which is a long shot after November's court decision, SCO may have trouble surviving after paying off its debt to Novell.

Hunsaker declined to discuss the size of the award that SCO owes Novell, but he noted that SCO is up to date in fees owed to lawyers. In addition to Novell, SCO also had lawsuits against AutoZone, IBM and Red Hat. Those lawsuits have been stayed until SCO emerges from bankruptcy.

Related Search Term(s): finances, mobile development, Unix, Novell, SCO

Pages 1 2

Share this link: http://sdt.bz/33139

Most Read Latest News Blog Resources

Branching and merging: the heart of version control
Providers hold their own views of the landscape, but the Git SCM system is drawing looks from them all

Not so fast when it comes to testing in the cloud
Developers face outsourcing, virtual lab management and mobile devices as obstacles

Microsoft pivots toward business intelligence
The goal is to make business intelligence accessible "to the masses"

From the Editors: Node.js is unruly, but that’s where the fun is
The time to get involved with Node.js is now; Hadoop is about to break its own barriers

Top five apps to manage your workload
Web applications offer new ways to track your “to-do” lists

Not so fast when it comes to testing in the cloud
Developers face outsourcing, virtual lab management and mobile devices as obstacles

Xceed releases UX-focused suite for Microsoft’s WPF
"Blendables" helps match user experiences to developer visions

Microsoft pivots toward business intelligence
The goal is to make business intelligence accessible "to the masses"

GitHire: Use Headhunters to Find Your Perfect Programmer
Are you a hiring manager tired of scouring the job boards? Check out this new service that will find 5 people interested in your jobs.

Facebook claims hacker cred
Facebook's SEC S-1 filing form includes a short essay on the Hacker Way by Mark Zuckerberg himself.

Ryan Dahl steps down
Ryan Dahl, creator of Node.js, steps back from his position as gatekeeper for the project.

Bloomberg opens its API
Bloomberg's APIs could lead to a future standard for accessing market data.

The Hidden Costs of Software Licensing Moving beyond paper-based software licensing to more flexible, software-based licensing is a business decision. There is a growing trend tow...

Case Study: You May Need a Development Mechanic As a contractor for a major financial player in Germany, SOBEGE, a German-based consultancy specializing in embedded IT and web services, wa...

Ensuring Software Quality at a Major International Bank One of the world’s leading international banks has adopted AgitarOne technology for delivering generated unit tests for their Java software...

Load Testing Adobe Flex Applications Adobe Flex applications may be different from applications you’ve worked with before. For classic HTML web applications, the server does all...

Technorati

Digg

Slashdot

Facebook

Friendfeed

Twitter

del.icio.us

Kik Launches an Open API to Enable Mobile Developers to Bake Instant Content Sharing Into Any App API-powered developers like Rude Boy Games, DrinkOwl and FlyScreen can promote their apps to millions of Kik Messenger users.

SCO vs. Novell decision overturned A review of the Unix asset purchasing agreement led a U.S. Court of Appeals panel to send the matter to another trial

Zeichick’s Take: The jury has spoken, but SCO is still here Hopefully the ruling from the District Court of Utah will spell the end of SCO's lawsuits

Add comment

Name*
Email*
Country

Comment

Kik Launches an Open API to Enable Mobile Developers to Bake Instant Content Sharing Into Any App
API-powered developers like Rude Boy Games, DrinkOwl and FlyScreen can promote their apps to millions of Kik Messenger users Read More...

News on Monday
more>>
SharePoint Tech Report
more>>

Download Current Issue
FEBRUARY 2012 PDF ISSUE

Need Back Issues?
DOWNLOAD HERE

Want to subscribe?

GitHire: Use Headhunters to Find Your Perfect Programmer
Are you a hiring manager tired of scouring the job boards? Check out this new service that will find 5 people interested in your jobs.
02/03/2012 12:17 PM EST

Facebook claims hacker cred
Facebook's SEC S-1 filing form includes a short essay on the Hacker Way by Mark Zuckerberg himself.
02/02/2012 08:26 AM EST

Ryan Dahl steps down
Ryan Dahl, creator of Node.js, steps back from his position as gatekeeper for the project.
02/01/2012 04:58 PM EST

Bloomberg opens its API
Bloomberg's APIs could lead to a future standard for accessing market data.
02/01/2012 04:41 PM EST

The case for piracy
In the aftermath of SOPA and PIPA, some copyright holders have begun to embrace piracy as inevitable...and even beneficial.
01/30/2012 02:39 PM EST

Tablet sales boom, but applications lag
The installed base of tablet computers and e-book readers is growing rapidly, but no killer app has yet emerged -- hint, hint.
01/28/2012 05:48 PM EST