SCO Insolvent
SCO filed for protection under Chapter 11 of US bankruptcy laws on Friday.
The company, known for its lengthy lawsuits concerning Unix rights, lost a decisive battle mid August when a US court ruled that Novell was the owner of the Unix code. At the same time, the court ruled that Novell was entitled to licensing fees based on its ownership.
Hit by litigation costs, SCO was threatened with NASDAQ delisting in late April; now the Supervisory Board has filed for protection with the court in Delaware. While under court supervision, SCO will have an opportunity to restructure. No debts will be collected in this period, while the court decides whether the company is capable of running economically. The main case in the Novell lawsuit is due to be heard September 17, however, under Chapter 11 the lawsuit will automatically be postponed.
Legal commentators on Groklaw have compiled a list of documents that SCO will be forced to publish under Chapter 11, including the Supervisor Board decision from September 13, and a list of outstanding debts. According to Groklaw SCO has total debts of US$ 7.5 m, but the company is worth US$ 14.8 m in total. The list of creditors does not include Novell's claim for outstanding license payments totaling at least US$ 25 m. SCO's lawyers state that the second largest item is legal fees totaling US$ 287 000, with investment company Amici topping the list at half a million US$. Novell asked the court for a quick decision back in January, stating that its opponent, SCO, would be running out of money soon and would thus be unable to fulfill its obligations.
Issue 268/2023
Buy this issue as a PDF
Subscribe to our Linux Newsletters
Find Linux and Open Source Jobs
Subscribe to our ADMIN Newsletters
Find SysAdmin Jobs
News
-
Escuelas Linux 8.0 is Now Available
Just in time for its 25th anniversary, the developers of Escuelas Linux have released the latest version.
-
LibreOffice 7.5 has Arrived Loaded with New Features and Improvements
The favorite office suite of the Linux community has a new release that includes some visual refreshing and new features across all modules.
-
The Next Major Release of Elementary OS Has Arrived
It's been over a year since the developers of elementary OS released version 6.1 (Jólnir) but they've finally made their latest release (Horus) available with a renewed focus on the user.
-
KDE Plasma 5.27 Beta Is Ready for Testing
The latest beta iteration of the KDE Plasma desktop is now available and includes some important additions and fixes.
-
Netrunner OS 23 Is Now Available
The latest version of this Linux distribution is now based on Debian Bullseye and is ready for installation and finally hits the KDE 5.20 branch of the desktop.
-
New Linux Distribution Built for Gamers
With a Gnome desktop that offers different layouts and a custom kernel, PikaOS is a great option for gamers of all types.
-
System76 Beefs Up Popular Pangolin Laptop
The darling of open-source-powered laptops and desktops will soon drop a new AMD Ryzen 7-powered version of their popular Pangolin laptop.
-
Nobara Project Is a Modified Version of Fedora with User-Friendly Fixes
If you're looking for a version of Fedora that includes third-party and proprietary packages, look no further than the Nobara Project.
-
Gnome 44 Now Has a Release Date
Gnome 44 will be officially released on March 22, 2023.
-
Nitrux 2.6 Available with Kernel 6.1 and a Major Change
The developers of Nitrux have officially released version 2.6 of their Linux distribution with plenty of new features to excite users.