WebCowboy (196209) writes "SCO Group has hit the reset button again on its restructuring plan to emerge from chapter 11 bankruptcy. The $5M cash injection and $95M line of credit offered up by SNCP is no longer on the table. Instead, SCO is hoping to have SNCP simply purchase SCO's remaining assets. The trustee overseeing this case must be getting impatient, and an independent fiduciary may be brought in to take over SCO operations outright, which at that point would probably mean Chapter 7 liquidation was not far off..."
Submission Summary: 0 pending, 5 declined, 1 accepted (6 total, 16.67% accepted)
WebCowboy writes "It appears that there are still enough people out there deluded enough to see value in SCOs UNIX operations. York Capital Management has put in a $36 million bid for SCOs UNIX operations. The offer includes coverage of up to $10 million for payment of legal fees and York Capital would assume ownership of the disputed UNIX IP as well as what is left of the lawsuits. Interestingly, SCO has offered this up for competitive bid (who would want to though?). Upon completion of the transaction, should bankruptcy court approve, SCOX would become solely a mobile applications provider (which is the only part of SCOs offerings that have undergone any meaningful development for quite some time)."