September 15th, 2007
It's over as SCO files for bankruptcy protection
With full credit to T.S. Eliot:
This is the way the world ends
This is the way the world ends
This is the way the world ends
…not with a bang but with a whimper
That’s right, kids. SCO has filed bankruptcy. Chapter 11. The kind of bankruptcy where a court official works with a creditors’ committee and takes control with the aim of repaying debts.
As Groklaw notes, a judge must approve the form of the filing, which includes a request that SCO continue to pay four law firms. A PDF on the case indicates their main intent is to avoid paying legal claims.
In practical terms this means the action now moves to Delaware, where the bankruptcy was filed. But we’re now talking about a different set of questions. Should this company be allowed to continue its legal war, or is that no longer in the best interest of its creditors, which now include Novell?
The picture, along with some good advice for champagne lovers, is from Cocktails.Com. Which brings up today’s question, how are you going to celebrate the SCO bankruptcy filing?
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Dana Blankenhorn has been a business journalist for 30 years, a tech freelancer since 1983. You can follow Dana on Twitter. See his full profile and disclosure of his industry affiliations.
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| 09/17/07
