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Ocean Park Advisors Files Its 12th Monthly Bill in SCO Bankruptcy
Thursday, November 11 2010 @ 09:17 PM EST

Another bill from Ocean Park Advisors, its 12th monthly bill. This one is for September. So... when does its advice pay off for SCO, one wonders? How many years does it take for this company to get on its feet and exit Chapter 11 or alternatively to see the wisdom of throwing in the towel?

Here is the bill:

11/11/2010 - 1197 - Monthly Application for Compensation of /Twelfth Monthly Application of Ocean Park Advisors, LLC, Financial Advisor to the Chapter 11 Trustee of the SCO Group, Inc. et la., for Compensation and Reimbursement of Expenses for the period of September 1, 2010 to September 30, 2010 Filed by Ocean Park Advisors, LLC. Objections due by 12/1/2010. (Attachments: # 1 Exhibit A - Summary of Hours by Professional and Project Codes and Detailed Reports # 2 Exhibit B - Expense Summary and Detailed Report # 3 Notice # 4 Certificate of Service) (Fatell, Bonnie) (Entered: 11/11/2010)

If you look at Exhibit A, here's the breakdown:
Project CodeDescriptionHoursValue
1 Planning, Supervision and Review 0.0 $0.00
2 Preparation and Review of Info. Requests and Related Matters 0.0 0.00
3 Analysis & Preparation of Court filings 2.5 715.00
4 Analysis, Preparation and Execution of Restructuring Plan 8.7 2,782.50
5 Analysis & Preparation of Budget & Reports 8.8 2,471.00
6 Analysis & Preparation of loan model and terms 0.0 0.00
7 Analysis & Preparation of Financial models 0.0 0.00
8 Preparation for and Attendance at Court Hearings 0.0 0.00
9 Prep/Participate in Company management calls and meetings 8.1 3,120.50
10 Prep/Participate in Board calls and meetings 0.0 0.00
11 Prep/Participate in Meetings/Conf. Calls with Counsel and Ch. 11 Trustee 6.4 1,803.50
12 Communication with lenders 0.0 0.00
13 Firm Retention 0.0 0.00
14 Preparation of Fee/Expense Applications 2.0 488.00
15 Non-working Travel Time 0.0 0.00

So the two biggest items, after attending meetings, are 'Analysis, Preparation and Execution of Restructuring Plan' and 'Analysis & Preparation of Budget & Reports'. What restructuring plan? The sale of the assets? What are they thinking, calling this a restructuring? To what? And exactly what is the "joint venture in China" mentioned on page 5? I thought that was over with. For that matter, what is this: "Canadian trademark application consideration after management request"? Canada? Trademark on what? India seems to be winding down, according to this entry:

Call with counsel to Trustee, management and Indian counsel regarding Indian corporate matters and wind-down
Winding down, period? Or winding down of corporate matters? It's all so vague. Lots of entries like this one:
Prepared for and participated in call with management on ongoing business matters
Business matters. Like what? There was a call with the trustee on "sales process". In short, they'd rather not be too specific. They know we read these things I guess. But I don't see any discussions with prospective buyers in the filing.

  


Ocean Park Advisors Files Its 12th Monthly Bill in SCO Bankruptcy | 163 comments | Create New Account
Comments belong to whoever posts them. Please notify us of inappropriate comments.
Correction here
Authored by: neutro511 on Thursday, November 11 2010 @ 09:26 PM EST
Make links clickable.

[ Reply to This | # ]

Newspicks commentary here
Authored by: neutro511 on Thursday, November 11 2010 @ 09:27 PM EST

[ Reply to This | # ]

Off-topic here
Authored by: neutro511 on Thursday, November 11 2010 @ 09:29 PM EST
Make links click-able.

[ Reply to This | # ]

Billing for billing
Authored by: elronxenu on Thursday, November 11 2010 @ 09:48 PM EST

Looks like they billed 2 hours for writing up their invoice.

1.7 hours for "Prepared OPA's draft fee application for August" and another 0.3 hours for review by the Associate.

[ Reply to This | # ]

Ocean Park Advisors Files Its 12th Monthly Bill in SCO Bankruptcy
Authored by: tiger99 on Thursday, November 11 2010 @ 10:33 PM EST
Well, that seems to be $9428.92 closer to Chapter 7!

[ Reply to This | # ]

You just saw the restructuring plan
Authored by: kawabago on Thursday, November 11 2010 @ 10:44 PM EST
The plan is, keep planning till the money's all gone.

[ Reply to This | # ]

The Plot Against PJ and Groklaw
Authored by: argee on Thursday, November 11 2010 @ 11:37 PM EST
I figured it out. We are all going to either die of
boredom, or leave Groklaw due to the interminable end
of the SCO Saga.

It's not like the old days. We had shootings, PI's running
around looking for PJ, we had the Mogster calling PJ a
Harridan, we had the letters to congress and Fortune 500,
we had all sorts of laughs, like the BSD-Code. That last
one must have been a real *aha!* moment for the Darlus.

Nothing exciting has been happening lately. It's like a
soap opera that won't die.


---
--
argee

[ Reply to This | # ]

No supervision, that explains a lot.
Authored by: derobert on Friday, November 12 2010 @ 12:54 AM EST
"Planning, Supervision and Review" ... zilch. Mmmmhmmm, like we didn't
see that coming. :-P

[ Reply to This | # ]

Canadian Trademark for "SCO & TREE DESIGN" registered 2010-10-04
Authored by: Anonymous on Friday, November 12 2010 @ 08:22 AM EST
APPLICATION NUMBER: 1375309
REGISTRATION NUMBER: TMA778935

Check the trademark database at cipo.gc.ca.

It seems to be a minor variation of an earlier trademark, "SCO &
DESIGN", registered in 1997:
APPLICATION NUMBER: 0804662
REGISTRATION NUMBER: TMA475359

[ Reply to This | # ]

It's simple
Authored by: qwertybdj on Friday, November 12 2010 @ 10:57 AM EST
float bill_amount = 10000.00 * rand();
while (SCO_cash > 0)
{
keep_scam_alive();
submit_monthly_bill(bill_amount);
SCO_cash -= bill_amount;
}
file_chapter_7();

[ Reply to This | # ]

There is the problem ->
Authored by: Anonymous on Friday, November 12 2010 @ 04:23 PM EST
1 Planning, Supervision and Review 0.0 $0.00

That would explain everything.
No planning. No supervision. No review.

[ Reply to This | # ]

Ocean Park Advisors Files Its 12th Monthly Bill in SCO Bankruptcy
Authored by: Anonymous on Friday, November 12 2010 @ 06:27 PM EST
Hmmm.. Three things come to mind here.

4 Analysis, Preparation and Execution of Restructuring Plan 8.7 2,782.50

If it were any company OTHER than SCO, I'd tell them to demand a refund. They
obviously didn't get their money's worth.

2). $11,380 for 36.5 hours of work in a MONTH? I'm in the wrong line of work.

3). I'm seriously starting to wonder if OPA isn't a front for someone like
Yarro or Darl and the gang, so they can keep laundering money through SCO.

Have a great day:)
Patrick.

[ Reply to This | # ]

Ocean Park Advisors Files Its 12th Monthly Bill in SCO Bankruptcy
Authored by: electron on Friday, November 12 2010 @ 07:14 PM EST
> 14 Preparation of Fee/Expense Applications 2.0 $488.00

Is it just me or is it fundamentally wrong to charge for charging?

Surely those lawyers should just suck up and accept that this is a fundamental
cost of doing business.

And, moreover, isn't $244/hour extortionately high?



---
Electron

"A life? Sounds great! Do you know where I could download one?"

[ Reply to This | # ]

Of course it paid off
Authored by: The Mad Hatter r on Friday, November 12 2010 @ 11:03 PM EST

TSCOG is technically still among the living. Considering where I thought that
they would be, just being alive in any way shape or form is a victory of sorts.

Too bad that the reason for keeping them alive is DOA after a jury, and then the
judge confirmed Judge Kimball's rulings.

I have to admit that I really wonder what they told David Boies to get him to
take on the case. It can't have had much relation to the truth in my opinion,
but they did manage to fool one of the best trial lawyers around, and that could
not have been easy.


---
Wayne

http://madhatter.ca/

[ Reply to This | # ]

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