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SCO Files MORS for January and Ocean Park Asks for Money |
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Wednesday, April 06 2011 @ 12:37 PM EDT
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SCO has now filed its Monthly Operating Reports for January. They have some inscrutable and/or cynical items and some I don't recall seeing before. Accounts Receivable = $246,754. Cash on hand at the beginning of the month = $804,709.00. Disbursements = $456,100. Wow. Remember that SCO got a $2M loan not that long ago, yet cash at the end of the month? $601,752.
Nothing for Novell in January. Cumulative to date receipts in the "Novell SVRx Fee" category were $881,526, but nothing at all in January. Disbursed to date since the bankruptcy began in 2007? $478,486. So.... Wait. That's not a debt. That's Novell's money from day one, not money owed to Novell. So, SCO will skulk out of bankruptcy court having converted Novell's money to its own use and nothing happens? Man, Delaware is a trip. So is SCO.
03/22/2011 - 1258 -
Debtor-In-Possession Monthly Operating Report for Filing Period As of
1/31/11 (The SCO Group, Inc.; 07-11337) Filed by Edward N. Cahn, Chapter
11 Trustee for The SCO Group, Inc., et al.. (Attachments: # 1 Certificate of
Service) (Tarr, Stanley) (Entered: 03/22/2011)
03/22/2011 - 1259 -
Debtor-In-Possession Monthly Operating Report for Filing Period As of
1/31/11 (SCO Operations, Inc.; 07-11338) Filed by Edward N. Cahn,
Chapter 11 Trustee for The SCO Group, Inc., et al.. (Attachments: # 1 Certificate of
Service) (Tarr, Stanley) (Entered: 03/22/2011)
03/24/2011 - 1260 - Claims Register in alphabetical and numerical order
can be viewed upon request at the clerk's office. Filed by Epiq
Bankruptcy Solutions LLC fka Bankruptcy Services, LLC. (JRK) (Entered:
03/24/2011)
04/06/2011 - 1261 - Certificate of No Objection Regarding Sixteenth
Monthly Application for Compensation of Ocean Park Advisors, LLC for the
Period January 1, 2011 to January 31, 2011 (related document(s) 1254 )
Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group, Inc., et
al.. (Tarr, Stanley) (Entered: 04/06/2011)
04/06/2011 - 1262 - Monthly
Application for Compensation of Ocean Park Advisors, LLC (Seventeenth)
for the period February 1, 2011 to February 28, 2011 Filed by Ocean Park
Advisors, LLC. Objections due by 4/26/2011. (Attachments: # 1 Notice # 2 Exhibit A # 3
Exhibit B #
4 Certificate of
Service) (Tarr, Stanley) (Entered: 04/06/2011)
Look at the professional fees SCO has paid out since it first filed for bankruptcy protection:$5,782,401
+ $472,791 expenses
$6,255,192 Ocean Park's 17th bill is for a meager $8,000 or so. Still, they'd better hurry and get paid before SCO goes poof. Nah. Professionals get paid, I noticed over the years. In fact, isn't that figure about what SCO had when it first filed for bankruptcy protection? Say, look at page 6 of #1258 [PDF]. "Loans to Insiders" in the amount of $748,863 in January, and $1,326,293 cumulative to date. What is that? [ Correction: I misread it. The "loans to insiders" category is blank, and one line down is "other".] And why would Japan's book value dip from $765,366 in September of 2007 when SCO filed for bankruptcy and now it's only listed as valued at $685,794? None of the other subsidiaries changed, except for SCO China, which was sold a while back. But here's the truly amazing figure: guess what SCO's net payroll was in January? $100,614. I kid you not. That would be one executive? One CFO? Or one salesman and someone to answer the phones? What is clear is that whatever unXis wanted these assets for, it's not for the fabulous business. The SCO Group as we knew it is no more, I conclude, ladies and gentlemen. It is become a wasteland, where occasional desultory winds move the tumbleweeds aimlessly here and there down the dusty and nearly empty streets.
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Authored by: tyche on Thursday, April 07 2011 @ 12:46 AM EDT |
Please indicate where the correction needs to be made, and what the incorrect
and correct form are. Thanks
Craig
Tyche
---
"The Truth shall Make Ye Fret"
"TRUTH", Terry Pratchett[ Reply to This | # ]
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- loans to insiders shows zero. - Authored by: Anonymous on Thursday, April 07 2011 @ 12:47 AM EDT
- net payroll is up - Authored by: Anonymous on Thursday, April 07 2011 @ 12:52 AM EDT
- accounts receivable is actually $874,542. - Authored by: Anonymous on Thursday, April 07 2011 @ 12:55 AM EDT
- professional fees (reorg) - Authored by: Anonymous on Thursday, April 07 2011 @ 01:07 AM EDT
- "SCO has now filed its Monthly Operating Reports for January" - Authored by: Anonymous on Thursday, April 07 2011 @ 05:36 PM EDT
- "SCO has now filed its Monthly Operating Reports for January" - Authored by: Anonymous on Thursday, April 07 2011 @ 08:30 PM EDT
- payroll figure is monthly, not annual - Authored by: Anonymous on Thursday, April 07 2011 @ 08:33 PM EDT
- "But here's the truly amazing figure" - Authored by: Anonymous on Thursday, April 07 2011 @ 08:55 PM EDT
- "In fact, isn't that figure about what SCO had when it first filed for bankruptcy protection?" - Authored by: Anonymous on Thursday, April 07 2011 @ 09:11 PM EDT
- "The SCO Group as we knew it is no more, I conclude, ladies and gentlemen." - Authored by: Anonymous on Thursday, April 07 2011 @ 09:15 PM EDT
- "They have some inscrutable and/or cynical items and some I don't recall seeing before." - Authored by: Anonymous on Thursday, April 07 2011 @ 09:17 PM EDT
- missing links on BK timeline - Authored by: Anonymous on Friday, April 08 2011 @ 01:06 PM EDT
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Authored by: tyche on Thursday, April 07 2011 @ 12:48 AM EDT |
Sound off on things that aren't related to the main topic. Where possible,
include links to back up what you are talking about. Thanks
Craig
Tyche
---
"The Truth shall Make Ye Fret"
"TRUTH", Terry Pratchett[ Reply to This | # ]
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- Pamela Jones Arrested - LOL Must be another Pamela Jones - Authored by: Anonymous on Thursday, April 07 2011 @ 03:12 AM EDT
- CRIA Watches Massive Music Piracy Crisis Devastate Unknown Band - Authored by: The Mad Hatter r on Thursday, April 07 2011 @ 08:00 AM EDT
- CRIA finds excuse to tryand not pay more bands - Authored by: Anonymous on Thursday, April 07 2011 @ 08:07 AM EDT
- CRIA Watches Massive Music Piracy Crisis Devastate Unknown Band - Authored by: Barbie on Thursday, April 07 2011 @ 08:28 AM EDT
- That's incredible - I wonder if the band realizes such behavior only looses possible fans. - Authored by: Anonymous on Thursday, April 07 2011 @ 09:48 AM EDT
- CRIA Watches Massive Music Piracy Crisis Devastate Unknown Band - Authored by: KGWon on Thursday, April 07 2011 @ 11:00 AM EDT
- Publicity is what they do best - Authored by: delestoran on Thursday, April 07 2011 @ 11:07 AM EDT
- Ouch! - Authored by: Anonymous on Thursday, April 07 2011 @ 11:45 AM EDT
- Numbers - Authored by: Anonymous on Thursday, April 07 2011 @ 01:46 PM EDT
- CRIA Watches Massive Music Piracy Crisis Devastate Unknown Band - Authored by: Anonymous on Thursday, April 07 2011 @ 03:07 PM EDT
- It reads like typical Big Media ignorance. - Authored by: Anonymous on Thursday, April 07 2011 @ 05:46 PM EDT
- My read of this - Authored by: Anonymous on Friday, April 08 2011 @ 12:32 PM EDT
- Their web site has some samples you can listen to. - Authored by: reiisi on Saturday, April 09 2011 @ 09:42 AM EDT
- Sustainable computing - or how to monetise those SCOXQ.BK share certificates - Authored by: SirHumphrey on Thursday, April 07 2011 @ 08:12 AM EDT
- Net giants challenge French data law - Authored by: davecb on Thursday, April 07 2011 @ 08:56 AM EDT
- Twenty years of Linux this August - Authored by: Superbowl H5N1 on Thursday, April 07 2011 @ 10:53 AM EDT
- Fortune 100 company servers breached - Authored by: Anonymous on Thursday, April 07 2011 @ 11:26 AM EDT
- Richard Stallman - Authored by: Anonymous on Thursday, April 07 2011 @ 11:47 AM EDT
- Richard Stallman - Authored by: Anonymous on Thursday, April 07 2011 @ 02:39 PM EDT
- Wm Morrison Supermarkets Plc tills run SCO Unix. - Authored by: Anonymous on Thursday, April 07 2011 @ 12:07 PM EDT
- Facebook to Open Source its Servers and Data Centers ? - Authored by: Anonymous on Thursday, April 07 2011 @ 02:27 PM EDT
- Market Summary for NOVL 04-07-11 - Authored by: Anonymous on Thursday, April 07 2011 @ 04:18 PM EDT
- The RIAA's Judges and Bought Politicians Soviet Union sleeper cells or a Fifth Column? - Authored by: SilverWave on Thursday, April 07 2011 @ 09:17 PM EDT
- On the fragility of monopolies on the internet - Authored by: tqft on Thursday, April 07 2011 @ 10:52 PM EDT
- WSJ - google ita FTC approval near - Authored by: tqft on Friday, April 08 2011 @ 12:24 AM EDT
- Twenty years of WWW - Authored by: Superbowl H5N1 on Friday, April 08 2011 @ 09:49 AM EDT
- Symbian - Is It Time For A Fork? - Authored by: The Mad Hatter r on Friday, April 08 2011 @ 10:44 AM EDT
- Microsoft won't get to nuy any Novell patents - Authored by: Anonymous on Friday, April 08 2011 @ 11:01 AM EDT
- OSI news release about Novel Deal - - Authored by: dacii on Friday, April 08 2011 @ 02:26 PM EDT
- Judge in Oracle-Google case gets a lesson in Java - Authored by: SpaceLifeForm on Friday, April 08 2011 @ 02:32 PM EDT
- Time Warner, Viacom aim legal guns at each other over iPad app - Authored by: SpaceLifeForm on Friday, April 08 2011 @ 03:13 PM EDT
- Japanese anger chance for reform - Authored by: Anonymous on Friday, April 08 2011 @ 04:28 PM EDT
- Market Summary for NOVL 04-08-11 - Authored by: dacii on Friday, April 08 2011 @ 04:49 PM EDT
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Authored by: tyche on Thursday, April 07 2011 @ 12:50 AM EDT |
Please indicate the title and link of the news pick you are commenting on.
Thanks
Craig
Tyche
---
"The Truth shall Make Ye Fret"
"TRUTH", Terry Pratchett[ Reply to This | # ]
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- Apologies, I was on-topic with "Net giants challenge French data law " - Authored by: davecb on Thursday, April 07 2011 @ 09:04 AM EDT
- Novell does Mono for Android - Authored by: Anonymous on Thursday, April 07 2011 @ 04:17 PM EDT
- Could Anonymous be harming public opinion for the Hotz case? - Authored by: Anonymous on Thursday, April 07 2011 @ 05:22 PM EDT
- Windows 8 Secrets: Windows Explorer Ribbon - Authored by: Anonymous on Thursday, April 07 2011 @ 06:09 PM EDT
- Windows 8 Secrets: Windows Explorer Ribbon - Authored by: Anonymous on Thursday, April 07 2011 @ 06:13 PM EDT
- Viacom and Time Warner Cable duel over iPad - Authored by: jbb on Friday, April 08 2011 @ 05:46 AM EDT
- Developer yanks unauthorized Windows Phone 7 update tool - Authored by: Anonymous on Friday, April 08 2011 @ 07:17 AM EDT
- # Facebook now wants a say in computer hardware - Authored by: jesse on Friday, April 08 2011 @ 07:39 AM EDT
- Facebook now wants a say in computer hardware - Authored by: ewe2 on Friday, April 08 2011 @ 07:42 AM EDT
- IBM & $7B in the cloud - Authored by: complex_number on Friday, April 08 2011 @ 08:55 AM EDT
- DTMF := - Authored by: dacii on Friday, April 08 2011 @ 01:05 PM EDT
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Authored by: tyche on Thursday, April 07 2011 @ 12:53 AM EDT |
For the "ways and means" committee who have the ways and means to
transcribe the Comes documents. Thanks
Craig
Tyche
---
"The Truth shall Make Ye Fret"
"TRUTH", Terry Pratchett[ Reply to This | # ]
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Authored by: argee on Thursday, April 07 2011 @ 01:46 AM EDT |
It occurs to me that perhaps Novell influenced or gave a
tip to SEC. I can't imagine that SCO can sell itself with
the stock tied up. That works to Novell's advantage, I
would think.
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--
argee[ Reply to This | # ]
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Authored by: dmarker on Thursday, April 07 2011 @ 05:12 AM EDT |
But, (take your pick)
1) yawn
2) "I don't believe it !"
3) "So who pays them :) "
4) "Is this how corporate law unfolds in the US ?"
(add your own :) )
D[ Reply to This | # ]
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- What is there to say ? - Authored by: Anonymous on Thursday, April 07 2011 @ 05:51 AM EDT
- What is there to say ? - Authored by: Anonymous on Thursday, April 07 2011 @ 07:59 AM EDT
- D - Authored by: Anonymous on Thursday, April 07 2011 @ 02:53 PM EDT
- What is there to say ? - Authored by: Anonymous on Thursday, April 07 2011 @ 07:44 PM EDT
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Authored by: Anonymous on Thursday, April 07 2011 @ 06:14 AM EDT |
Has any bankruptcy judge ever been
href="http://en.wikipedia.org/wiki/Impeachment_in_the_United_S
tates">impeached<
/a>? Because this Judge sure
seems to play fast and loose with the letter of
the law.[ Reply to This | # ]
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Authored by: YurtGuppy on Thursday, April 07 2011 @ 09:21 AM EDT |
They must win so that they can pay their debts.
So when they defeat Novell and go on to defeat IBM
_then_ they can pay their debts to Novell.
Until then they have to keep the shell of the company
together and keep paying the lawyers and accountants
and business consultants and donuts for the meetings, etc. etc.
It's all very straightforward ;-)
---
every guppy is a half-full kind of guy[ Reply to This | # ]
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Authored by: Anonymous on Thursday, April 07 2011 @ 09:28 AM EDT |
Strange designation "Fee". One of the court cases SCO lost designated
it not a fee but a collection in trust. It has to be a fee for the contract to
be non-executive. But the case that started the whole bankruptcy thing ruled
that the money was collected "in trust".
The fact that the court case that started the whole bankruptcy filing ruled that
the money was collected "in trust" is very very significant.
Judge Cahn is a trustee in bankruptcy. He must be aware that the SysV money is
collected in trust by SCO. Failure to pay that is likely to result in at least
the loss of the trustee's bond if not more.
I am not a lawyer but I see some complications here. Including deliberate
obfuscation of the trust obligation.
[ Reply to This | # ]
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Authored by: Anonymous on Thursday, April 07 2011 @ 09:35 AM EDT |
And there are no loans to insiders. [ Reply to This | # ]
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Authored by: delestoran on Thursday, April 07 2011 @ 09:35 AM EDT |
SCO had a contract with Novell to handle certain money that belonged to
Novell. SCO takes that money and spends it without ever giving it to Novell.
Is this conversion or theft?
If it is conversion, then SCO will simply cry "we're broke" and that's
it. If it is
theft, then why doesn't someone file a criminal complaint? Someone should
go to jail for this.
Of course, this would not be the first time that a bankruptcy court converted
someone else's property into cash and distributed it away from who actually
owned it. I once worked for a company that was having some rather
expensive hardware built and the company building it filed for Chapter 7.
The expensive hardware and associated parts were owned by my company,
but by the time we found out about the filing, the whole thing had been sold
for scrap and the money distributed to the creditors. The filing company
failed to notify the court that it was our property and we where told that it
was just tough luck. [ Reply to This | # ]
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Authored by: Jeffrey on Thursday, April 07 2011 @ 09:49 AM EDT |
I'm sorry. But if you collect my money for me and abscond with it, it's
stealing. And if I have my way, someone is going to give me ALL of my money,
plus interest, or go to jail. I'd press charges. Wouldn't you?
That sounds simple enough. Why hasn't this happened?
<tap><tap><tap>Hellooo. Novell? Anyone home?
"Corporations" cannot make decisions, decisions are made by people.
And when you do not know who made a specific decision, then those at the top
shoulder that burden.
Someone has to go to jail here! Why isn't anyone going to jail?!
(Frankly, I think the DE Bankruptcy judge should go to jail too, but I'll save
that for another rant.)[ Reply to This | # ]
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Authored by: nuthead on Thursday, April 07 2011 @ 10:18 AM EDT |
I'm still waiting for Judge Gross to submit his bill. [ Reply to This | # ]
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Authored by: The Mad Hatter r on Thursday, April 07 2011 @ 10:39 AM EDT |
To quote Marcellus from William Shakespeare's Hamlet, 'Something is rotten in
the state of Denmark.'
Let's see.
1) Novell apparently didn't file an objection to the sale
2) The SCO Group apparently spent the money held in trust for Novell
3) The U.S. Trustee has been missing in action
4) Judge Cahn has been, well, a pod person effectively
5) Judge Gross finally decides on a sale to the group he wouldn't sell to before
- why now?
6) Why not just convert to Chapter 7 and give Novell what was left?
7) Does anyone get the impression that Delaware more resembles Ferrengal?
Just some thoughts. Think I'll take some more pain killers and stumble back to
bed.
---
Wayne
http://madhatter.ca/[ Reply to This | # ]
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Authored by: Anonymous on Thursday, April 07 2011 @ 10:40 AM EDT |
Not sure if this is real.
Website
Look at "Our People" - different
people, same photo.
[ Reply to This | # ]
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- Unxis website is alive. - Authored by: mpellatt on Thursday, April 07 2011 @ 10:58 AM EDT
- Fresh lipstick - Authored by: Anonymous on Thursday, April 07 2011 @ 10:59 AM EDT
- Unxis says sale is consumated - Authored by: argee on Thursday, April 07 2011 @ 11:13 AM EDT
- Unxis website is alive. NOT !!! - Authored by: Anonymous on Thursday, April 07 2011 @ 11:24 AM EDT
- should I be upset? - Authored by: YurtGuppy on Thursday, April 07 2011 @ 11:34 AM EDT
- Unxis website is alive: Products - Authored by: Anonymous on Thursday, April 07 2011 @ 11:38 AM EDT
- SCO is dead - long live SCO! - Authored by: Anonymous on Thursday, April 07 2011 @ 11:46 AM EDT
- same old garbage - Authored by: sumzero on Thursday, April 07 2011 @ 12:01 PM EDT
- Unxis website is alive. - Authored by: tiger99 on Thursday, April 07 2011 @ 12:05 PM EDT
- Unxis website is alive. - Authored by: jonathon on Thursday, April 07 2011 @ 02:23 PM EDT
- Unxis website is alive. - Authored by: Anonymous on Thursday, April 07 2011 @ 02:35 PM EDT
- If ever there was a website worthy of getting hacked... - Authored by: Anonymous on Thursday, April 07 2011 @ 03:08 PM EDT
- Well sort of... - Authored by: jesse on Thursday, April 07 2011 @ 04:25 PM EDT
- Unxis website is alive and well and living in Argentina? - Authored by: Anonymous on Thursday, April 07 2011 @ 04:55 PM EDT
- Wonder if the officers have nultiple personality disorder - Authored by: Anonymous on Thursday, April 07 2011 @ 05:27 PM EDT
- Words are cheap N/T - Authored by: Anonymous on Thursday, April 07 2011 @ 05:54 PM EDT
- Unxis website is undead. - n/t - Authored by: Anonymous on Thursday, April 07 2011 @ 11:10 PM EDT
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Authored by: the_flatlander on Thursday, April 07 2011 @ 01:10 PM EDT |
>> The SCO Group as we knew it is no more, I conclude, ladies and
gentlemen. It is become a wasteland, where occasional desultory winds move the
tumbleweeds aimlessly here and there down the dusty and nearly empty streets.
<<
Paints quite the picture, but, (and I don't mean to be argumentative), I think
you're describing a neighborhood far nicer than the one SCO is in. I mean, I'm
thinking more along the lines of a place with drifting clouds of sulphur fumes,
and open pools of boiling pitch. Tumbleweeds are *way* too upscale for SCO,
these days.
The_Flatlander
I'm so old I remember when the company was called Caldera, and that didn't seem
prophetic.[ Reply to This | # ]
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Authored by: Anonymous on Thursday, April 07 2011 @ 01:33 PM EDT |
The way I read it is that the amount is $0. The $748,863 falls under the
heading "Other Assets" which in subsequent pages is defined as the
value of foreign or other subsidiaries.[ Reply to This | # ]
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