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SCO Files Reorg Plan
Wants to appeal decision that awarded Unix to Novell
By: Maureen O'Gara
Jan. 13, 2009 01:59 PM
SCO filed its Chapter 11 reorganization plan with the bankruptcy court in Delaware.
The notion of getting $100 million from the oil-rich Arabs has disappeared down the same rat hole as $150-a-barrel oil - yes, folks, even Dubai has been crushed in the global depression - so SCO is proposing to stage what is called a "naked auction" and sell off its assets - anything that is except its legal claims - expecting to raise just enough - without selling everything - to see its case through.
All it needs to turn is one good trick. Its legal bills through the very last appeal - even if that means the Supreme Court - are already paid.
The plan, advised by its bankruptcy attorneys, awaits the court's pleasure.
SCO is already on the road to appealing the decision that awarded ownership of Unix to Novell and the $40 million that Novell claimed by way of compensation has been reduced to a mere $2.5 million and a trust amount of only $625,000.
It says that "In the event that certain SCO are not sold SCO will continue to sell and support its Unix and mobile products and services, including UnixWare, OpenServer, SCO Mobile Server and select mobile applications. SCO will also focus on the following key provisions: (a) an enhanced pricing and discount strategy, (b) an updated "True-up" licensing program with current customers, (c) reducing overall operating costs, (d) ship SCO Unix Virtual products lines for VMware and Hyper V to allow SCo legacy applications to run on modern hardware and, (e) ship FCmobilelife and FCtasks for the iPhone."
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