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First Report on Bankruptcy Hearing: SCO Wins Extension - Updated

By Pamela Jones et al.

I don't have details yet, but here's the first report from today's bankruptcy court hearing on SCO's motion to extend its exclusive right to file a reorganization plan, which Novell had filed objections to:

Just got back. Many notes to decipher and type up for you. Short version - the whole hearing was on extending exclusivity. The Judge granted SCO's motion. The judge further stated that he would not set a deadline for a plan. He said that further extensions were possible.

More to come ......

I think you get the picture. I'll add to this as more details arrive. The other matter at the hearing was all the fee applications. What? You doubt they were rubber stamped?

Update: We have the rest of the story, and MikeD also had a chance to talk with Darl after the hearing and find out what the plan is going forward. You'll be surprised, I think. I'll let him tell it:

I met with Darl briefly and exchanged pleasantries after the hearing. I asked him what his role was now. He is still President and CEO. I told him it sounded "like they were taking him out back and shooting him" from some of the things we had read. We both laughed.

Darl told me the plan is to spin off the Unix assets under a new company with a new CEO. Darl will run the remaining company ---running IP litigation---.

I guess that is where the post-APA copyrights and OpenServer come in. They still dream of second homes in Spain or whatever. And "spin off" has a ring of insider, to me. Does it to you? Sale is one thing, spin off is another. One thing is for sure. This story never gets boring. And the good news is we'll always have Darl to kick around. Kidding.

Full post as published by Groklaw on June 17, 2008 (boomark / email).