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SCO's Nov. 8 Bankruptcy Hearing Cancelled/Postponed Until Dec. 1
Thursday, November 04 2010 @ 03:27 PM EDT

Well, knock me over with a feather. I surely didn't expect this. SCO's hearing in bankruptcy court in Delaware set for November 8 has been cancelled/postponed. Here's the notice in its entirety:
PLEASE TAKE NOTICE that the hearing scheduled in the above-captioned case for November 8, 2010 has been cancelled. The next hearing is currently scheduled for December 1, 2010 at 10:30 a.m.
I have no idea why. Maybe they can't find a buyer? Or they can't figure out how to get past the objections. Or it could be as innocent as schedule impasse, illness. We'll have to wait to find out. No doubt we will in good time. I just hope they don't postpone until after Christmas, as that holiday never appears in SCO's calendar until after the fact.

Actually, the closing was set for November 30th. This isn't a trick, is it? That would be so out of character for the noble SCO.

Here's the filing:

11/04/2010 - 1194 - Notice of Adjourned/Rescheduled Hearing (No hearing will be held on November 8, 2010) Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group, Inc., et al.. Hearing scheduled for 11/8/2010 at 03:00 PM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #3, Wilmington, Delaware. (Fatell, Bonnie) (Entered: 11/04/2010)

Anyway, if you were planning to go, please adjust your plans.

By 'get past the objections', I mean Novell's, Oracle's, and EMC's objections to SCO's Notice of Cure Amounts.


  


SCO's Nov. 8 Bankruptcy Hearing Cancelled/Postponed Until Dec. 1 | 343 comments | Create New Account
Comments belong to whoever posts them. Please notify us of inappropriate comments.
SCO's Nov. 8 Bankruptcy Hearing Cancelled/Postponed Until Dec. 1
Authored by: Lazarus on Thursday, November 04 2010 @ 03:34 PM EDT
I will take this opportunity to point out that "I was right".


And bask in the 'glory' of a correct prediction.

---
Darl McBride: The Uwe Boll of the business management world.

[ Reply to This | # ]

Corrections here
Authored by: Erwan on Thursday, November 04 2010 @ 03:35 PM EDT
If any

---
Erwan

[ Reply to This | # ]

Off Topic Here...
Authored by: Lazarus on Thursday, November 04 2010 @ 03:46 PM EDT
Off topic posts. Make links clickable, etc.

---
Darl McBride: The Uwe Boll of the business management world.

[ Reply to This | # ]

It can't close, can it?
Authored by: Anonymous on Thursday, November 04 2010 @ 03:46 PM EDT
With those outstanding objections to cure amounts? Don't those have to be
resolved? Without resolving them, nobody knows what the actual financials of
the deal are, do they?

MSS2

[ Reply to This | # ]

Approaching declaration of game, set, match
Authored by: eggplant37 on Thursday, November 04 2010 @ 03:46 PM EDT
I believe we're nearing game over here. Novell's got a strong
reply in the appeal, the sale just stinks to high heaven of
problems, and SCO is running out of money quickly. They've managed
to stall off the bankruptcy court for this long as they get the
sale either out of the way or declared dead on arrival, but that
won't last as I'm betting the bankruptcy judge and the trustee are
growing rather tired of the shenanigans out in Utah. This is
really getting fun to watch.

[ Reply to This | # ]

News Picks here
Authored by: Lazarus on Thursday, November 04 2010 @ 03:46 PM EDT
News pick commentary for this thread.

Make links clickable.

---
Darl McBride: The Uwe Boll of the business management world.

[ Reply to This | # ]

I surely didn't expect this
Authored by: Yossarian on Thursday, November 04 2010 @ 04:14 PM EDT
I surely did expect that, and I posted so on Monday, November 01 @ 08:01 PM EDT.
I repeat my post, minus one spelling error.

Wanna bet that there will be no SCO hearing on November 8?

(The reason is pretty simple. Novell opened quite a can of
worms. As a result no sale will happen. But the more the
issues will be discussed, the sooner the judge will realize
how hopeless SCO's situation is.)

##################################################

For some reason nobody wanted to bet against me.
I wonder why.

[ Reply to This | # ]

  • I did - Authored by: Anonymous on Thursday, November 04 2010 @ 04:26 PM EDT
  • Humph! - Authored by: tyche on Thursday, November 04 2010 @ 04:30 PM EDT
    • Humph! - Authored by: Yossarian on Thursday, November 04 2010 @ 05:11 PM EDT
      • Humph! - Authored by: PJ on Friday, November 05 2010 @ 12:30 PM EDT
It's simple enough
Authored by: overshoot on Thursday, November 04 2010 @ 04:18 PM EDT
The Court didn't see any need for a hearing, since the assets had already been
approved for sale and the sale closed.

[ Reply to This | # ]

SCO's Nov. 8 Bankruptcy Hearing Cancelled/Postponed Until Dec. 1
Authored by: dmarker on Thursday, November 04 2010 @ 04:21 PM EDT

I am wondering if they hope to roll the hearings over to the 'next Feb 29th'.

Anything is possible.

:) :) :)

DSM

[ Reply to This | # ]

Isn't the reason is obvious?
Authored by: Anonymous on Thursday, November 04 2010 @ 04:52 PM EDT
SCO would like to attend PJ's award ceremony.

[ Reply to This | # ]

"That would be so out of character for the noble SCO. "
Authored by: Anonymous on Thursday, November 04 2010 @ 05:06 PM EDT
Hahahaha!!!

[ Reply to This | # ]

illness
Authored by: DannyB on Thursday, November 04 2010 @ 05:33 PM EDT
Maybe they can't find a buyer? Or they can't figure out how to get past the objections. . . ., illness.

Yes, Illness. I think that's it. Judge Cahn is ill.

Ill over the fact that he cannot find a (*cough* *cough*) buyer. MOR's are (*cough*) misplaced. Or something. (Need to get that *cough* looked at.)

How long do you suppose illness could actually be used as a stalling tactic? (Not just in any court, but in "take me out back and..." court.)

I think there's still a bit of enjoyment to be had watching Cahn have to answer some tough questions. Hopefully soon. Although the longer he delays it, the worse it will look.

---
The price of freedom is eternal litigation.

[ Reply to This | # ]

Hot Dog!
Authored by: Anonymous on Thursday, November 04 2010 @ 05:56 PM EDT
Extract from SCOGBK#976, the transcript of the hearing of October 23, 2009.

MR. CAHN: I inquire, Judge Gross, whether you would like written reports from me, or oral reports?

THE COURT: I think that it would be wel lto have written reports.

MR. CAHN: Then you shall have written reports.

THE COURT: Yes.

There is something rotten in the state of Delaware.

[ Reply to This | # ]

What amazes me is why no one with standing is complaining
Authored by: celtic_hackr on Thursday, November 04 2010 @ 06:02 PM EDT
I realize, it takes time and what not to complain about this process, but
seriously, how can anyone involved just let this happen month after month after
month?

All these cancellations have to be causing someone to lose money. Unless they
are all flying private jets or exchangeable airline tickets and hotel
reservations.

[ Reply to This | # ]

Why can't the debtors petition to end this anyway?
Authored by: Anonymous on Thursday, November 04 2010 @ 06:02 PM EDT
What I'd like to know is why the debtors cannot get together (after so much time
has elapsed) and simply petition for Chapter 7 or otherwise get thins moving.

I don't remember them doing so and I thought there were limits on how long one
could be in Chapter 11, even for SCO.

[ Reply to This | # ]

SCO's Dec 1st Bankruptcy Hearing Cancelled/Postponed Untill??????
Authored by: sscherin on Thursday, November 04 2010 @ 06:05 PM EDT
Shall we start a pool on when the next real hearing will be held?

I'm betting on Feb 7th 2011

[ Reply to This | # ]

My wild guess
Authored by: Anonymous on Thursday, November 04 2010 @ 06:36 PM EDT
We're going to see another one of these sloppily thrown together "group of
investors". It's probably proving difficult to get the necessary financial
info together. The next hurdle will be even more difficult.

[ Reply to This | # ]

I know why it was cancelled...
Authored by: Anonymous on Thursday, November 04 2010 @ 07:49 PM EDT
Cahn's dog ate his term sheet.

[ Reply to This | # ]

SCO's Nov. 8 Bankruptcy Hearing Cancelled/Postponed Until Dec. 1
Authored by: Anonymous on Thursday, November 04 2010 @ 08:56 PM EDT
Yet another surprise from SCO. I think we should have a contest every time
something important is coming up. People would post their guesses as to what SCO
is going to do, and the one who comes closest would win a Groklaw t-shirt.

[ Reply to This | # ]

Justice behind closed doors?
Authored by: Anonymous on Thursday, November 04 2010 @ 09:57 PM EDT
First time posting here so I must acknowledge what a phenomenal job PJ has
done with GrokLaw. Yes, I came for the Sco Show, but I stayed for the
education. This insight into to US legal system has opened up an important
topic I simply know nothing about.

And ignorance brings me to my question. We have seen a lot of postponed
and cancelled hearings since Judge Cahn took over. I can't help but wonder if
he simply did not think that a bankruptcy case is a public spectacle, as an
outside observer may view GrokLaw, so has opted to take as much legal
business out of the public domain as possible. After all, he came to this case

cold and having every action scrutinized in fine detail by a site like GrokLaw
would be quite a surprise.

How much legal process can occur in the private dealing between Judge Cahn
and Judge Gross, and what kind of activities are truly held up until a public
hearing takes place?

I fear we are being cut out of the loop, but don't know enough to know if that
is possible.

[ Reply to This | # ]

They just keep forgetting...
Authored by: SK8TRBOI on Thursday, November 04 2010 @ 11:53 PM EDT
...that we are all STILL watching!

---
SK8TRBOI

[ Reply to This | # ]

You are all wrong, even Stats!
Authored by: Ian Al on Friday, November 05 2010 @ 05:30 AM EDT
There is not enough cash left for the bus trip to and from the court house.

---
Regards
Ian Al
SCOG, what ever happened to them? Whatever, it was less than they deserve.

[ Reply to This | # ]

SCO's Nov. 8 Bankruptcy Hearing Cancelled/Postponed Until Dec. 1
Authored by: Anonymous on Friday, November 05 2010 @ 08:54 AM EDT
Keep in mind, they have effectively sold off their chapter 7 in order to stay in
chapter 11 as well. If they go chapter 7 then they effectively lose all their
assets I believe. I think Novell would rather have SCO try to sell off its
assets like it is right now so they can assert their rights, and actually get a
judge to agree to those rights that they have, rather then moving for a chapter
7, having all the assets go to SCO's guardian angel, and then have a whole new
set of litigation to try to figure out how that is all going to work.

[ Reply to This | # ]

What about the MORs?
Authored by: Anonymous on Saturday, November 06 2010 @ 07:18 AM EDT

A company in Chapter 11 bankruptcy is required to file monthly operating reports.

Natch, Gross waived this requirement until somebody complained.

So Cahn started filing "provisional" MORs. AFAIK, every Monthly Operating Report than Cahn has filed with the bankruptcy court contains a disclaimer, saying that Cahn's team has not yet had time to go over SCO's finances properly yet.

But Cahn has been in charge now for more than a year, since August 2009 to be exact. That's more than enough time to go over SCO's books. It's not as though SCO was a multi-billion-dollar conglomerate! SCO is a relatively small company with few sources of income. A thorough audit should have taken no more than three or four months, given that it should have had a very high priority. In fact it should have been the very top priority because you can't make any sensible plan for a business entity without knowing its financial position.

So:

  1. what is Cahn up to?
  2. And, why isn't Gross holding Cahn's feet to the fire?
  3. And, given that neither the bankruptcy Trustee nor the bankruptcy Judge seem to be doing their jobs, is there anything the creditors can do about that?

[ Reply to This | # ]

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