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| Hearing in the SCO Bankruptcy Oct. 23 - Cahn's Preliminary Report - Updated: Pachulski Stang asks to leave |
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Thursday, October 22 2009 @ 12:56 PM EDT
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Don't forget that there is a status hearing tomorrow, on October 23rd, in the SCO bankruptcy. The scheduled agenda [PDF] will include the Chapter 11 Trustee's "preliminary report" on the SCO Group's estate. I imagine that should be interesting indeed, given recent events, despite it being described as a status hearing only.
I hope some of you will be able to attend, so we don't have to wait months to find out what happened. It starts at 10 AM on Friday in the US Bankruptcy Court for the District of Delaware, and you probably want to call first to make sure it isn't cancelled using contact info here, in Judge Gross's courtroom, as always.
The filings:
10/21/2009 - 929 - Certificate of No Objection regarding Motion of the
Chapter 11 Trustee to Approve the Further Expansion of the Scope of
Retention of Tanner LC to Audit the Debtors 401(k) Plan for the Year
Ended December 31, 2008 In Accordance with ERISA Rules and Regulations
for the Debtors Nunc Pro Tunc to September 14, 2009 (related document(s)
917 ) Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group,
Inc., et al.. (Fatell, Bonnie) (Entered: 10/21/2009)
10/21/2009 - 930 - Certificate of No Objection regarding Chapter 11
Trustees Application for Authority to Retain and Employ Ocean Park
Advisors LLC as Financial Advisor and Investment Banker Nunc Pro Tunc to
September 15, 2009 (related document(s) 923 ) Filed by Edward N. Cahn,
Chapter 11 Trustee for The SCO Group, Inc., et al.. (Fatell, Bonnie)
(Entered: 10/21/2009)
10/21/2009 - 931
- 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 10/23/2009 at 10:00 AM at US Bankruptcy Court, 824 Market
St., 6th Fl., Courtroom #3, Wilmington, Delaware. (Fatell, Bonnie)
(Entered: 10/21/2009)
There are also two uncontested matters, about hiring Ocean Park Advisors and about expanding Tanner's role, as you see. Darl McBride's recent letter allegedly sent to Cahn on Sunday expressed some unhappiness about the Ocean Park folks, so it's officially uncontested *so far*.
Update: Pachulski, Stang has filed a motion to withdraw as SCO's attorney, or as one of their bankruptcy attorneys:
9. The Chapter 11 Trustee has selected counsel in these cases and an
application to approve that retention has been approved (Docket No. 914).
10. PSZ&J seeks leave of this Court to withdraw as counsel to the Debtors in these chapter 11 cases. The Chapter 11 Trustee is serving and is represented by counsel and the Debtors' interests are adequately represented.
So much is changing. Not to be cynical, but when the money runs out, if there is an opening, so do the lawyers ofttimes.
The filing:
10/22/2009 - 934 - Motion to Withdraw as Attorney /Motion of Pachulski Stang Ziehl & Jones LLP for Leave to Withdraw as Co-Counsel to the Debtors Filed by Pachulski Stang Ziehl & Jones LLP. Objections due by 11/11/2009. (Attachments: # 1 Notice # 2 Proposed Form of Order # 3 Affidavit of Service and Service List) (Makowski, Kathleen) (Entered: 10/22/2009)
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| Authored by: LocoYokel on Thursday, October 22 2009 @ 01:07 PM EDT |
| Please title error -> correction with details in body [ Reply to This | # ]
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| Authored by: LocoYokel on Thursday, October 22 2009 @ 01:08 PM EDT |
Discussion on items in the News Picks. Remember the guidelines and HTML
pointers.[ Reply to This | # ]
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| Authored by: LocoYokel on Thursday, October 22 2009 @ 01:10 PM EDT |
Anything not pertaining to the article or News Picks that strikes your fancy.
Please pay attention to the posting guidelines and HTML instructions below the
text window.[ Reply to This | # ]
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| Authored by: Erwan on Thursday, October 22 2009 @ 04:00 PM EDT |
| To save us a four month wait for the transcripts... ---
Erwan [ Reply to This | # ]
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| Authored by: _Arthur on Thursday, October 22 2009 @ 06:05 PM EDT |
#934 Motion to Withdraw as Attorney /Motion of Pachulski Stang Ziehl & Jones
LLP for Leave to Withdraw as Co-Counsel to the Debtors Filed by Pachulski Stang
Ziehl & Jones LLP.
Seems that PSZ&J is giving up on good ship SCO.bk[ Reply to This | # ]
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| Authored by: Anonymous on Thursday, October 22 2009 @ 10:16 PM EDT |
"Motion for Approval of Settlement with AutoZone" [935]
21. The Trustee respectfully submits that the Settlement Agreement is fair and
reasonable, is in the best interests of the Debtors' estates, and is well within
the range of reasonableness and, accordingly, should be approved. The Settlement
Agreement resolves complex, fact-intensive issues and further review and/or
litigation with respect to such issues would be costly and the results
uncertain. Moreover, further review and/or litigation with respect to such
issues would likely yield minimal additional benefit to creditors.
"Motion to File Under Seal" [936]:
21. ... The Settlement Agreement contains information that the parties consider
highly confidential and related to their respective businesses and if released
would detrimentally impact such businesses. Additionally, disclosure of the
terms contained in the Settlement Agreement could hamper the Trustee's ability
to maximize the value of the Debtors' estates through prolonged litigation.
So what will Darl say?[ Reply to This | # ]
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| Authored by: DannyB on Friday, October 23 2009 @ 10:55 AM EDT |
Round and round we go. Wheeeeee!
When the money stops, all lawfirms file to withdraw!
The last lawfirm left representing client is the loser.
---
The price of freedom is eternal litigation.[ Reply to This | # ]
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