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SCO Group (TSG) Now Officially in Chapter 7, with Cahn Still at the Helm ~pj
Wednesday, August 29 2012 @ 05:39 PM EDT

It's a done deal. SCO is now officially transferred from Chapter 11 to Chapter 7 bankruptcy protection. Here's the order [PDF]. The Chapter 11 trustee, Edward Cahn, was to turn over all the records and assets to the interim Chapter 7 trustee as soon as the US Trustee appoints him or her, and file with the court within 14 days a list of all unpaid debts incurred after the Chapter 11 bankruptcy began and within 30 days a final report. Of course, as he requested, he is now appointed [PDF] as the Chapter 7 interim trustee. He just changes hats.

So what does that mean? Chapter 11 is where you are going to try to reorganize the business and save it, paying creditors whatever you can. Chapter 7 is where you have come to bury the company once and for all. But first you sell off any assets, which at the moment would be the litigation prospects. I wonder who might be interested in buying that?

Here are the filings:

08/23/2012 - 1436 - Certification of Counsel Regarding Motion to Convert Cases From Chapter 11 to Chapter 7 of the Bankruptcy Code (related document(s)1419) Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group, Inc., et al.. (Attachments: # 1 Exhibit A # 2 Exhibit B) (Tarr, Stanley) (Entered: 08/23/2012)

08/23/2012 - 1437 - Notice of Agenda of Matters Scheduled for Hearing Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group, Inc., et al.. Hearing scheduled for 8/28/2012 at 10:00 AM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #3, Wilmington, Delaware. (Attachments: # 1 Certificate of Service) (Tarr, Stanley) (Entered: 08/23/2012)

08/24/2012 - 1438 - Virtual Minutes of: 08/28/2012
Subject: Motion to Convert to Chapter 7.
Appearances: NONE.
Proceedings: VACATED: Certification of Counsel FILED - ORDER SIGNED - HEARING CANCELLED.
(vCal Hearing ID (155090)). (related document(s) 1437) (SS) (Entered: 08/24/2012)

08/24/2012 - 1439 - Order Converting Cases From Chapter 11 to Chapter 7 of the Bankruptcy Code (related document(s)1436) Order Signed on 8/24/2012. (TAS) (Entered: 08/24/2012)

08/24/2012 - 1440 - Notice Requiring Creditor/Noticing Information and Release of Claims Agent (TAS) (Entered: 08/24/2012)

08/24/2012 - 1441 - Amended HEARING CANCELLED/RESCHEDULED. Notice of Agenda of Matters Scheduled for Hearing. Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group, Inc., et al.. Hearing scheduled for 8/28/2012 at 10:00 AM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #3, Wilmington, Delaware. (Attachments: # 1 Certificate of Service) (Tarr, Stanley) (Entered: 08/24/2012)

08/26/2012 - 1442 - BNC Certificate of Mailing. (related document(s)1440) Notice Date 08/26/2012. (Admin.) (Entered: 08/27/2012)

08/28/2012 - 1443 - Appointment of Trustee Edward N. Cahn, Esq. Filed by United States Trustee. (United States Trustee) (Entered: 08/28/2012)

That last one is where Mr. Cahn gets his wish, being appointed as the interim trustee, which I considered a foregone conclusion:
You are hereby notified of your appointment in an asset case as Interim Trustee/Trustee of the estate of the above named debtor. The amount of your bond has been fixed by the United States Trustee. You are required to notify T. PATRICK TINKER, ASSISTANT UNITED STATES TRUSTEE, at J. Caleb Boggs Federal Building, 844 King Street, Suite 2207, Wilmington, DE. 19801 in writing within (5) days after receipt of this notice only if you reject this case.

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