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| Monday's Bankruptcy Hearing Rescheduled for April 7 at 3 PM |
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Saturday, March 13 2010 @ 03:22 PM EST
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The hearing on the motion to approve the sale of SCO's mobility products to Darl McBride, exCEO of SCO, has been rescheduled. So don't show up, if you were planning to on Monday. It is now set for April 7th at 3:00 PM Delaware time, unless there are no objections and no competing offers, in which case the judge can just sign off on it.
The deadline for objections is now March 31 (rather than March 11). And that's the deadline for submitting any competing offers:Competing Offer Deadline: March 31, 2010 at 4:00 p.m. (ET). Any party wishing to submit a competing offer for the Mobility Business must submit a non-contingent offer, marked APA to show any revisions, and evidence of financial wherewithal to close on the transaction on or before March 31, 2010 at 4:00 p.m. (ET) to: (i) The SCO Group, Inc., 333 South 520 West, Suite. 170, Lindon, Utah 84042, Attn: Ryan Tibbitts; (ii) Blank Rome LLP, 1201 N. Market Street, Suite 800, Wilmington, DE 19801, Attn: Bonnie Glantz Fatell, Esq.; (iii) Ocean Park Advisors, LLP, 6033 West Century Blvd. Suite 1290, Los Angeles, CA 90045, Attn: Mark Fisler. They'd like to know about your wherewithal, eh? I don't recall any serious signs of due diligence on Seung Ni whatever Yarro calls his spanking new loan entity. But then, that was an emergency, seeing as how all the professionals must be timely paid. Novell? Creditors? Hahahahaha. Stand in line, suckahs. To be serious for a moment, do as you please, but my view has come to be that the less these folks know where you are, the better off your are. Just saying.
Here's the docket:
03/12/2010 - 1090 - Certificate of No Objection regarding Second Application for Compensation and Reimbursement of Expenses of Blank Rome LLP for the Period of November 1, 2009 Through November 30, 2009 [No Order Required] (related document(s) 1054 ) Filed by Blank Rome LLP. (Fatell, Bonnie) (Entered: 03/12/2010)
03/12/2010 - 1091 - Amended Notice of Hearing / Amended
Notice of Motion Of The Chapter 11 Trustee For Order Under 11 U.S.C. Sections 105(A), 363, And 365 And Fed. R. Bankr. P. 2002, 6004, 6006 And 9014 (A) Approving The Sale Of Mobility Business Free And Clear Of All Liens, Claims, Interests And Encumbrances Pursuant To 11 U.S.C. Section 363, (B) Authorizing And Approving The Assumption And Assignment Of Certain Executory Contracts In Connection Therewith, And (C) Granting Related Relief (related document(s) 1066 ) Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group, Inc., et al.. Hearing scheduled for 4/7/2010 at 03:00 PM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #3, Wilmington, Delaware. Objections due by 3/31/2010. (Attachments: # 1 Certificate of Service) (Fatell, Bonnie) (Entered: 03/12/2010)
03/12/2010 - 1092 - HEARING CANCELLED/RESCHEDULED. Amended Notice of Agenda of Matters Scheduled for Hearing. Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group, Inc., et al.. Hearing scheduled for 4/7/2010 at 03:00 PM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #3, Wilmington, Delaware. (Attachments: # 1 Certificate of Service) (Fatell, Bonnie) (Entered: 03/12/2010)
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| Authored by: IMANAL_TOO on Saturday, March 13 2010 @ 03:25 PM EST |
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IMANAL
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| Authored by: Steve Martin on Saturday, March 13 2010 @ 03:52 PM EST |
(I have been trying to keep up with this so that the occasion would not go by
unnoticed, but sadly I fell down on the job.)
On Thursday March 11, at 11:07 AM, PJ published an article titled "Updating
the Mozilla Public License". By my tally, arrived at by copy/pasting out
the list of stories from the "Archives" link and putting the text in
"gedit" (which numbers lines in the margin), this article marks
published article number 4000.
Four thousand articles in just under seven years. That's a lot of work, PJ.
Thank you for that, and for Groklaw.
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"When I say something, I put my name next to it." -- Isaac Jaffe, "Sports Night"[ Reply to This | # ]
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| Authored by: tiger99 on Saturday, March 13 2010 @ 03:54 PM EST |
End of the month is now the deadline for a bid. I am still good for at least
£5k, and I think others offered too, a while back.[ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 13 2010 @ 03:55 PM EST |
I nslookup-ed both several days ago and they were both
132.147.63.12. Now they're both gone. Does that mean anything?
[ Reply to This | # ]
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| Authored by: DannyB on Saturday, March 13 2010 @ 03:59 PM EST |
But not anything goes here.
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The price of freedom is eternal litigation.[ Reply to This | # ]
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| Authored by: Yossarian on Saturday, March 13 2010 @ 04:15 PM EST |
I have a feeling that there was a Plan A - Yarro loan.
Plan B - Darl buying assets.
The goal of both plans was to get the servers, with all
internal management data, into "safe" hands. Since plan A
worked so well there is no reason to push for Plan B. It can
go to the back burner.
What do y'all think?[ Reply to This | # ]
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| Authored by: DaveJakeman on Saturday, March 13 2010 @ 04:34 PM EST |
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| Authored by: SilverWave on Saturday, March 13 2010 @ 04:40 PM EST |
:)
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RMS: The 4 Freedoms
0 run the program for any purpose
1 study the source code and change it
2 make copies and distribute them
3 publish modified versions
[ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 13 2010 @ 04:52 PM EST |
In january of 2009, the debtors had a plan to auction the mobility business. In
pages 21-22 of #655, it reads:
Mobility Business - minimum bid of
$2,000,000
FCmobilelife (or Me inc. mobile) - minimum bid of
$1,000,000
HipCheck - minimum bid of $500,000
Shout Postcard -
minimum bid of $250,000
Shout Marketing - minimum bid of
$250,000
SCO Cloud Server (a/ka SCO Mobile Server) - minimum bid of
$1,000,000
I am curious to know how this whole thing is
now value at $35,000.[ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 13 2010 @ 06:10 PM EST |
Mobility business: $35,001
Look on Darl's face: priceless
Wouldn't even take deep pockets if someone (Vic ??) has the requisite
arrangements made to collect small donations and/or sell shirts. (And fend
Mastercard off :-([ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 13 2010 @ 06:18 PM EST |
By SEC regulations, SCO had to report the transaction with Seung Ni
Capital
on Form 8-K no later than yesterday, if the deal closed on Monday
(as SCO told
the bankruptcy court it would.) The filing must be made
electronically and
becomes visible on EDGAR right away. No such filing was
made.
SCO is
delinquent in its periodic SEC filings, but it has been prompt in
its current
reports. 8-K's were last filed in October and November, always
within one
business day of the reportable event.
When it was approved by the court, the
agreement with SNC had not yet
been signed, in contrast to the failed unXis
deal which was signed subject to
court approval as a contingency. Even after
the court approved the SNC deal,
either side could have backed out, and that
may have happened. [ Reply to This | # ]
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