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Ocean Park Files its October Bill - Its 13th So Far in SCO Bankruptcy - Plus Aug. 23rd Hearing Transcript
Tuesday, November 23 2010 @ 05:36 PM EST

Ocean Park Advisors has now filed its bill for October in the SCO bankruptcy, its 13th bill. If you are sick of this case, imagine how they feel. All their advice and here's SCO, still stuck in the bankruptcy mud. Indeed one sees signs of OPA looking for an exit. In Exhibit A [PDF], on page 5 we find notations like these:
  • "Work with OPA team on financial analysis and wind-down scenarios for SCO"
  • "Preparation of initial financial plan for case resolution. Research of various documents and consultation with legal counsel to Ch. 11 Trustee"
  • "Review and formulate sources & uses analysis for case closure"

Meanwhile, there is another monthly bill for SCO to pay, ha ha, for $10,611 plus expenses, all in the pretense that SCO is restructuring and will emerge from Chapter 11 to fight another day. And who can say nay, given that Novell has agreed to merge with AttachMate, thanks to a payment by a Microsoft-organized consortium for some patents to sweeten the deal? Stay tuned. That's my advice. It's the saga that never ends.

Here it is:

11/23/2010 - 1205 - Monthly Application for Compensation of Ocean Park Advisors, LLC (Thirteenth) for the period October 1, 2010 to October 31, 2010 Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group, Inc., et al.. Objections due by 12/13/2010. (Attachments: # 1 Notice # 2 Exhibit A # 3 Exhibit B # 4 Certificate of Service) (Fatell, Bonnie) (Entered: 11/23/2010)

Wait. What's this? On October 27th, we find:
Review contemplated settlement offer
Don't ask me. It's as cryptic as the rest of the notations. The public only gets to guess.

We also now have the transcript [PDF] from the August 23rd hearing, which was released from its seal today. So you can compare it with Groklaw's live coverage of the hearing.


  


Ocean Park Files its October Bill - Its 13th So Far in SCO Bankruptcy - Plus Aug. 23rd Hearing Transcript | 72 comments | Create New Account
Comments belong to whoever posts them. Please notify us of inappropriate comments.
Corrections
Authored by: bbaston on Tuesday, November 23 2010 @ 05:42 PM EST
eror > error

---
IMBW, IANAL2, ICRN, IAVO
imaybewrong, iamnotalawyertoo, icantremembernow, iamveryold

[ Reply to This | # ]

Off Topic
Authored by: bbaston on Tuesday, November 23 2010 @ 05:44 PM EST
links appreciated. on topic not appreciated here ...

---
IMBW, IANAL2, ICRN, IAVO
imaybewrong, iamnotalawyertoo, icantremembernow, iamveryold

[ Reply to This | # ]

News Picks
Authored by: bbaston on Tuesday, November 23 2010 @ 05:46 PM EST
comments on existing newspicks. link to the news pick being commented on is very helpful to all ...

---
IMBW, IANAL2, ICRN, IAVO
imaybewrong, iamnotalawyertoo, icantremembernow, iamveryold

[ Reply to This | # ]

Ocean Park Files its October Bill - It's 13th So Far in SCO Bankruptcy - Plus Aug. 23rd Hearing Transcript
Authored by: sk43 on Tuesday, November 23 2010 @ 05:55 PM EST
October must have been an extremely busy time for Ocean Park. After all,
according to Judge Gross' order of Aug. 23 [SCOBK-1161], bids for the purchase
of substantially all of SCO's assets were due on October 5, and the auction was
scheduled to happen on October 25.

Or did nobody show up?

[ Reply to This | # ]

This is...
Authored by: Anonymous on Tuesday, November 23 2010 @ 06:10 PM EST
this is the suit that never ends,
it just goes on and on my friends,
some SCObies started suing all not knowing what's their cause,
and they'll continue suing all foreever just because...
this is the suit that never ends...

(repeat forever - to the tune of "this is the song that never ends")

There's probably a youtube of the song from the TV show Lambchops Playhouse.

John Macdonald

[ Reply to This | # ]

"If you are sick of this case, imagine how they feel"
Authored by: Yossarian on Tuesday, November 23 2010 @ 07:05 PM EST
They cry all the way to the bank.

[ Reply to This | # ]

Oct 7 meeting
Authored by: Anonymous on Wednesday, November 24 2010 @ 12:46 AM EST
On October 7, several people billed 0.5 hours with this description: "Call
with management on range of operating
issues (excludes discussion of sales process)." So, did the call go longer,
but the part about the sale isn't billable? That would make sense if they are
expecting to get a cut of the sales price as payment for the work on the sale. I
don't remember and can't find (didn't look that hard) if that was the
arrangement or not.

It would also explain the relatively low number of hours this month. I would
have expected a lot more hours because of sale. I saw no hours specifically
about the sale.

[ Reply to This | # ]

Cahn's excuse ...
Authored by: Anonymous on Wednesday, November 24 2010 @ 03:09 AM EST
Cahn can now have a bankruptcy hearing on December 7, as a status report, and
tell Gross that there are buyers, but the buyers wait until some more detail
emerges on the Attachmate purchase of Novell. So it's Novell's fault, again,
your honour. We'll all just have to wait a bit longer.

In other news, your honour our appeal has again been expedited, and will be
heard on January 20. We are again confident of success in the court of appeal.

[ Reply to This | # ]

Lehman Bankruptcy Fees Top $1 Billion
Authored by: rsteinmetz70112 on Wednesday, November 24 2010 @ 09:08 AM EST
Just for comparison.

http://online.wsj.com/article/SB10001424052748704243904575630653803513816.html

Lehman had about $40 billion in assets.

---
Rsteinmetz - IANAL therefore my opinions are illegal.

"I could be wrong now, but I don't think so."
Randy Newman - The Title Theme from Monk

[ Reply to This | # ]

It's too bad that the justice department can't pierce the Corporate Veil w/ Anti-Trust response?
Authored by: Anonymous on Wednesday, November 24 2010 @ 03:17 PM EST
It's too bad that the justice department can't pierce the Corporate Veil w/
Anti-Trust response?

Did Microsoft actually invent something? Ummm, I mean innovate?

How to dodge anti-trust with pawns, and proxy (both maybe)?

The only thing that will keep Microsoft alive is the money that they can throw
around, and you know how politicians (and isn't the AG office political) all
love money these days.

[ Reply to This | # ]

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