Creditor Objects To SCO's Plans 108
I Don't Believe in Imaginary Property writes "It seems that SCO is never without a trick up its sleeve. In the new '$100 million' reorganization plan, $5 million of which is cash and $95 million credit, one of the creditors is protesting because SCO is hiding the Definitive Documents until there's no time to object. In their own words, 'The debtors are proposing to file the Disclosure Statement 33 days before the hearing, in compliance with the requirement that it be filed at least 25 days before the hearing (F. R. Bankr. P. 3017). However, it is clear that this Disclosure Statement will be inadequate for evaluating the Plan, because it will not include any of the Definitive Documents. The Debtors are proposing to file the Definitive Documents separately, and to do so a mere five business days before the hearing, which is zero days before objections are due.'"
Yes, well... (Score:5, Informative)
"We saw a tremendous investment opportunity in SCO and its vast range of products and services, including many new innovations ready or soon to be ready to be released into the marketplace," said Stephen Norris, managing partner for SCNP....
About Stephen Norris Partners
Stephen Norris & Co. Capital Partners, L.P. is a private equity investment partnership formed to (i) "co-invest" alongside well established and successful private equity and leveraged buyout firms, (ii) take advantage of the business experience and relationships of its Investment Committee, including Steve Norris' long-standing relationships and substantial private equity experience.
While the press release says that SNCP is a partnership, the MOU says it's a deal between SCO and STEVE NORRIS CAPITAL PARTNERS, LLC and it defines SNCP as "Stephen Norris Capital Partners, LLC" and it further says it's a Delaware limited liability company ("Investment Team: Stephen Norris Capital Partners, LLC, a Delaware limited liability company ("SNCP").").
Not a creditor (Score:5, Informative)
Re:get two more creditors and press for chapter 7 (Score:3, Informative)
So no, you likely won't get many takers for the Linux install for $20, because most people who are interested would probably do it themselves.
Re:get two more creditors and press for chapter 7 (Score:3, Informative)