[mdlug] SCO Group files Chapter 11...

[Garry Stahl]

Bob Dion wrote:
> It looks like they are preparing for losing at next weeks trial.
>
> File for chapter 11 so they don't have to pay anything to novell.

Not in this case. as was pointed out the word the judge used was
"conversion".  What that means is the SCO doesn't owe Novell, they are
holding Novell's property.  the only item in dispute is how much of
Novel's property.  That is not protected in the bankruptcy any more than
the bank can seize your brother's car if it is in your driveway, for
debts you owe.

The amount of conversion will have to be settled before the trustees can
determine how much SCO really has.  I have a feeling that will be
"nothing" and chapter 11 will slide into chapter 7.

The bad news is that SCO could vaporize before there is a judgment in
the IBM case.

-- 
Garry  AKA  --Phoenix--  Rising above the Flames.

Si hoc legere scis nimium eruditionis habes
Star Trek mort. Viva la Star Trek admiraetur
The Olde Phoenix Inn Http://phoenixinn.iwarp.com