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SCO Asks Bankruptcy Court for More Time to File a Plan

By Pamela Jones et al.

SCO has just filed a rather clever motion [PDF], asking for more time to exclusively file a reorganization plan. Normally, they have a deadline to exclusively file their reorganization plan by January 12. After that, any creditor can file one. Like, for instance, Novell or IBM. SCO would like to extend their exclusivity until July. Here's why: they remind the court that Novell and SCO can't get to trial in Utah and finish up there until maybe February. Then the judge may take a few weeks to write up his decision, quantifying Novell's damages. So now you are in mid-March. So far, one can follow, and it makes sense. How do you hop to July, though? SCO apparently wants to appeal first and then reorganize:

Accordingly, the Debtors estimate that it will not have a ruling on Novell's damages, nor an ability to appeal the August 10 summary judgment ruling, until mid-March 2008. The Debtors, therefore, request a period of 60 days after that anticipated event, corresponding with a date 120 days after the current exclusivity bar date, to maintain its exclusivity under section 1121.

I know. Breath-taking. They want their creditors to wait and not get paid anything until July, so SCO can sue some more. Well, why not? They're living and suing on what most of us view as Novell's money already.

Full post as published by Groklaw on January 02, 2008 (boomark / email).