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SCO Files for Chapter 11

 
 
JohnO
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      09-17-2007
Good job. Should make quite a few people happy.

 
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peterwn
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      09-17-2007
JohnO wrote:
> Good job. Should make quite a few people happy.
>

No. Chapter 7 (total liquidation) would have been better.

Chapter 11 basically allows a company to ward off creditors while it is
generally 'business as usual'. There is no New Zealand equivalent to
Chapter 11.

SCO has basically ignored Novell, IBM and Red Hat in its Chapter 11
filing, and these companies may try and convince the Delaware (where
most USA companies are registered) court that they are also major
prospective creditors.
 
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