YEEEEEEEHAAAAAAH!!!!!!!!!!!!!!!!!!!!!!!!
http://money.cnn.com/news/newsfeeds/articles/prnewswire/LAF04014092007-1.htm
The SCO Group Files Chapter 11 to Protect Assets as It Addresses Potential Financial and Legal Challenges

I hope its not too soon to sing Ding Dong, The Witch Is Dead! :D

Oh thank god, there's a special place reserved in hell for Darl McBride and Co

More info: http://www.groklaw.net/article.php?story=20070914152904577

Couldn't happen to a nicer company.

I wonder if this great news is the reason why Microsoft is abandoning its "Just the Facts" advertisements versus Linux.

I hope its not too soon to sing Ding Dong, The Witch Is Dead! :D

That would be Chapter 7 (liquidation of assets), no?

Can't see how a reorganization will make the situation better for them though... :p

AFAIK, and IANAL, the creditors must file for Chapter 7 liquidation, but an interesting legal argument popping up on Groklaw might arise that would be SCO's worst nightmare, possibly making this whole Chapter 11 bankruptcy moot.

Since it has been found that SCO never owned the copyrights, then all the money they collected from Microsoft, Sun, and others from the UNIX stuff therefore never has been SCOs so cannot be considered a SCO debt to Novell under bankruptcy law. It was and is Novell's money, not SCO's, so it is seen to be an already existent Novell monetary asset. Therefore this is apparently not a debt under bankruptcy law.

Think about that for awhile... SCO might just have been cleaned out completely because the ruling means that Novell was not handed over about one hundred million dollars of its own money by SCO.

Stay tuned to see if this comes about, but as I say its being discussed on Groklaw...