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Ocean Park's 11th Bill. Working on a Restructuring Plan. And Executing It.

By Pamela Jones et al.

Ocean Park Advisors has filed its 11th monthly bill in the SCO bankruptcy, for $15,831, 80% of the bill for August, plus $196.13 in expenses. That's for 68.6 hours. According to the bill, they spent most of their time in August working on: "Analysis, Preparation and Execution of Restructuring Plan", 19.5 hours, $6,157.50.

There's a restructuring plan?? And they're *executing* it?

Actually, all kidding aside, they define restructuring on page 4 of the filing as "headcount reductions and non-payroll expense rationalizations." That's one of the saddest parts of the SCO story, all the employees whose lives have been impacted negatively. I gather from the bill, most of the headcount reductions in August were in the foreign subsidiaries. The August SCO story was shrinkage. It must be so depressing to work for SCO in 2010.

Full post as published by Groklaw on September 30, 2010 (boomark / email).