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It's a New Year. Nothing Changed. Ocean Park Files Another Bill.
Monday, January 03 2011 @ 08:13 PM EST

If you thought the new year changed anything in the SCO Universe, guess again. At least not in the public SCO Universe. Ocean Park, reliable as can be, wants the SCO bankruptcy court to give them... guess what? Mo' money, silly! This bill is for November, for a total of $14,201.00.

What did they do for SCO in November? The largest item on Exhibit A [PDF], the breakdown of time spent, is preparing for and attending meetings and participating in conference calls:

Prep/Participate in Meetings/Conf. Calls with Counsel and Ch. 11 Trustee - $3.500.00
Yawn. Can you think of anything less fun in the universe than to attend meetings with lawyers strategizing about SCO?

What? Am I nuts? I'd *pay* to attend. For real.

I gather that entry means things like this entry on page 6:

Prepared draft of update presentation for the Trustee.
That's what he needs to keep up? A Powerpoint presentation? Is he a lucky guy or what? Wait. What's this?
Preparation of NDA's for debtor loan participants, organize call, prepare for the call
That's from page 7. What loan is this talking about? A new one? But here we are in January, and where is it? Stay tuned. That's my advice.

Next in time spent? You won't believe this one:

Analysis, Preparation and Execution of Restructuring Plan - 3,054.00
Promises, promises. And where might we find said restructuring plan?

I wonder what this means, on page 5:

Updated draft of Sources and Uses for case resolution
Case resolution? Which one? Which case? India, maybe?

Here it is, so you can guess too:

01/03/2011 - 1211 - Monthly Application for Compensation of Ocean Park Advisors, LLC (Fourteenth) for the period November 1, 2010 to November 30, 2010 Filed by Ocean Park Advisors, LLC. Objections due by 1/24/2011. (Attachments: # 1 Notice # 2 Exhibit A # 3 Exhibit B # 4 Certificate of Service) (Fatell, Bonnie) (Entered: 01/03/2011)


  


It's a New Year. Nothing Changed. Ocean Park Files Another Bill. | 48 comments | Create New Account
Comments belong to whoever posts them. Please notify us of inappropriate comments.
Corrections Thread
Authored by: bugstomper on Monday, January 03 2011 @ 08:33 PM EST
Please summarize in the Title box error->correction or s/error/correction/ to
make it easy to scan what has already been noted.

[ Reply to This | # ]

Off Topic threads
Authored by: bugstomper on Monday, January 03 2011 @ 08:39 PM EST
Please stay off topic in these threads. Remember to put something in the Title
box to indicate your topic. Use HTML Formatted mode to make your interesting
links clickable.

[ Reply to This | # ]

News Picks Thread
Authored by: bugstomper on Monday, January 03 2011 @ 08:42 PM EST
Talk about New Picks articles here. Remember to put the title of the News Pick
in the Title box and include a clickable HTML link to the article in your
comment for the convenience of the reader once the article has scrolled off the
News Picks sidebar.

[ Reply to This | # ]

COMES goes here - 2158 to go...
Authored by: bugstomper on Monday, January 03 2011 @ 08:45 PM EST
Keep those COMES transcripts and summaries coming. Please post the transcript in
Plain Old Text mode but with the HTML code embedded in it to make it easy for PJ
to copy and paste.

[ Reply to This | # ]

The Asset Sale ?
Authored by: Anonymous on Monday, January 03 2011 @ 10:31 PM EST
So no work on the Asset Sale in November? That seems suspicious.

[ Reply to This | # ]

2011 - Groklaw still strong. SCO floundering.
Authored by: Anonymous on Tuesday, January 04 2011 @ 12:37 AM EST
Thanks PJ..

One of the things that has been claimed time and again about
the open source community - is that we have no staying
power. When it gets tough, we will wander off..

What Groklaw has shown clearly is that as as community we
understand the true value of our time and money.

We are happy to walk away from things that have no real long
term value - but when it counts we will dig in for the long
fight.

One of the things that we will need to address in the
community as time goes by is how we deal with succession
planning. In all big businesses - succession planning is
critical to the longevity - focus is spend on making sure
the business is setup to survive the replacement of any
number of people - the 'business' keeps going.

The community currently relies on heroism - a similar trait
to the model employed by the startups.

We need to figure out how to abstract the ideals from the
people - and then push hard for the ideals, while allowing
the people to rotate out and rest.

Thanks for still being there..

[ Reply to This | # ]

Rate of Cash Burn
Authored by: sproggit on Tuesday, January 04 2011 @ 01:35 AM EST
One of the interesting aspects of this case as been the masterful way that SCO
have managed to fumble along in Chapter 11 protection for such a remarkably long
time.

Specifically, isn't it amazing that the various law firms who do work for SCO
(sorry but I lost count of how many there are now) all seem to put in their
monthly bills - which get paid instantly - and yet SCO always seem to have money
left at the end of the month that enables them to avoid Chapter 7.

If anyone has the documents to hand, along with the time and inclination to
follow up, I would be interested to know how much money SCO has spent in legal
fees since declaring bankruptcy. If that amount of cash starts to get close to
what SCO owed at the time that they entered Chapter 11, then I would like to
hope that someone, perhaps the US Trustee, would start to challenge Judge Kevin
Gross as to his management of this particular case.

SCO have been in Chapter 11 for what - 3 years now. They have yet to file a
single valid re-structuring plan (although I am inclined to concede that Trustee
Edward Cahn seems to have moved them into a cash neutral position), have been
consistently unable to file their MORs in a timely fashion, and continue to do
the latter complete with caveats and escape clauses for Cahn's benefit.

Seriously, what gives?

If we were to total up all the money that SCO has spent in legal fees since they
declared Chapter 11 and figure that as a percentage of the total amount owing at
the time they went into bankruptcy protection, I would expect that they could
have paid all their creditors by now. As far as I am aware, noone has been paid.


Is the US legal system so corrupt, so devoid of justice or reason or even
competent judges that this sort of nonsense is allowed to continue?

Yes, apparently it is.

[ Reply to This | # ]

  • Rate of Cash Burn - Authored by: Anonymous on Tuesday, January 04 2011 @ 11:26 AM EST
  • Rate of Cash Burn - Authored by: Anonymous on Wednesday, January 05 2011 @ 02:11 PM EST
  • Who's the piper? - Authored by: Anonymous on Thursday, January 06 2011 @ 10:43 AM EST
It's a New Year. Nothing Changed. Ocean Park Files Another Bill.
Authored by: Anonymous on Tuesday, January 04 2011 @ 04:49 AM EST

Yawn. Can you think of anything less fun in the universe than to attend meetings with lawyers strategizing about SCO?

What? Am I nuts? I'd *pay* to attend. For real.

Maybe a new revenue opportunity for them? I can even start to see a restructuring plan based on disgruntled developers paying to watch them. But I think my chosen venue would be tickets to watch them in a roman arena - with something else entertaining, like lions.

[ Reply to This | # ]

SCO has something they can SELL
Authored by: Kilz on Tuesday, January 04 2011 @ 08:06 AM EST
Thats right, all the SCO people that read Groklaw pay
attention. PJ has offered to pay you to sit in on meetings.
Im sure others would also. So hurry, make certificates to
sell entitling the bearer to attend one super secret SCO
meeting. :)

[ Reply to This | # ]

It's a New Year. Nothing Changed. Ocean Park Files Another Bill.
Authored by: Anonymous on Tuesday, January 04 2011 @ 04:12 PM EST
What loan is this talking about?

But there is an NDA. That means the trustee and the judge have decided it is best if we don't find out.

[ Reply to This | # ]

I think now SCO will never die
Authored by: billyskank on Wednesday, January 05 2011 @ 03:48 PM EST
There will always be another loan to tide them over, and the bankruptcy court
seems not to notice, or care that SCO are clearly not interested in making a
going concern of their business.

---
It's not the software that's free; it's you.

[ Reply to This | # ]

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