SCO's Inevitable End Moves Closer
· bankruptcy, futility, open source, sco
Originally published at https://holdenweb.blogspot.com/2009/05/scos-inevitable-end-moves-closer.html
A recent development in SCO's Chapter 11 bankruptcy takes the company still closer to its inevitable final demise. Groklaw reports that the US trustee has filed a motion to convert the bankruptcy proceedings from Chapter 11 (reorganization under protection from creditors) to Chapter 7 (liquidation of the business).Darl McBride, somewhat predictably, is quoted as saying he was surprised by the decision, and that the company will fight it. This doesn't hide the fact that a bankrupt strategy will lead to a bankrupt company. The current stock price of $0.15 capitalizes the company at just over $3 million. How are the mighty fallen.
bankruptcy futility open source sco