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Jun. 17, 2009

SCO's CEO Darl McBride still thinks that his ill-fated company owns some lines of code of Unix and Linux and has again revealed to the world for the fourth time that it wants to fight back again. This is now sounding worse that the most borring soap opera...

Just before a crucial liquidation hearing in bankruptcy court yesterday, McBride inked what he thinks is a life-saving deal with a company called Gulf Capital Partners. The investment firm is backed by the high-profile equity investor Stephen Norris, the same man who pondered buying SCO the last time it faced bankruptcy destruction a few months ago.

SCO filed for Chapter eleven bankruptcy protection in September 2007 after a U.S. judge found that Novell was the true owner of the Unix licenses that SCO sold to Sun Microsystems and Microsoft, and was even suing IBM as well.

According to the Salt Lake Tribune, the 'deal' would sell SCO's Unix software unit to London-based Gulf Capital Partners. SCO president Jeff Hunsaker and the majority of the company's 62 employees would join the new company.

What remains of SCO would hold tight to its long-standing licensing claims against IBM and Novell under McBride.

An appointed bankruptcy trustee recently asked permission to dissolve SCO under Chapter 7, saying the company has "no reasonable chance of rehabilitation." That is, unless it somehow miraculously came up with the cash to pay off its debts, which would be far-fetched to say the least.

It seems SCO's never-ending quest for survival will now be decided at the new hearing set for July 16, or the backup date July 27.

This whole thing has been in fact a never-ending soap opera and one that most people in the IT community are fed up of hearing about. Let's hope the judge throws out this last ditch attempt at something that should have been buried a long long time ago.

Source: OS Review.

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