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 272/2023
Buy this issue as a PDF
Subscribe to our Linux Newsletters
Find Linux and Open Source Jobs
Subscribe to our ADMIN Newsletters
News
-
An All-Snap Version of Ubuntu is In The Works
Along with the standard deb version of the open-source operating system, Canonical will release an-all snap version.
-
Mageia 9 Beta 2 Ready for Testing
The latest beta of the popular Mageia distribution now includes the latest kernel and plenty of updated applications.
-
KDE Plasma 6 Looks to Bring Basic HDR Support
The KWin piece of KDE Plasma now has HDR support and color management geared for the 6.0 release.
-
Bodhi Linux 7.0 Beta Ready for Testing
The latest iteration of the Bohdi Linux distribution is now available for those who want to experience what's in store and for testing purposes.
-
Changes Coming to Ubuntu PPA Usage
The way you manage Personal Package Archives will be changing with the release of Ubuntu 23.10.
-
AlmaLinux 9.2 Now Available for Download
AlmaLinux has been released and provides a free alternative to upstream Red Hat Enterprise Linux.
-
An Immutable Version of Fedora Is Under Consideration
For anyone who's a fan of using immutable versions of Linux, the Fedora team is currently considering adding a new spin called Fedora Onyx.
-
New Release of Br OS Includes ChatGPT Integration
Br OS 23.04 is now available and is geared specifically toward web content creation.
-
Command-Line Only Peropesis 2.1 Available Now
The latest iteration of Peropesis has been released with plenty of updates and introduces new software development tools.
-
TUXEDO Computers Announces InfinityBook Pro 14
With the new generation of their popular InfinityBook Pro 14, TUXEDO upgrades its ultra-mobile, powerful business laptop with some impressive specs.