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Hearing Postponed on Gifting York- New Date Sept. 16 [or never?]

By Pamela Jones et al.

It will not surprise you to learn that there has been another postponement of the hearing on SCO's desire to give some unearned money to York Capital Management. If you recall, SCO claimed it felt a moral impulse to pay them even though it doesn't have to. The new date in bankruptcy court for that hearing will be September 16.

Or never.

If I were SCO, I wouldn't want to have to argue that crazy motion either. So, what I'd do is keep postponing until I could file a reorganization plan first, and then after I got out of bankruptcy I could give them whatever I wanted to, without oversight. If I couldn't postpone that long, I'd tell the court I'd dropped the motion. Then I'd pay them later, for whatever the real reason is. Why SCO wants to pay them, and who are they representing anyway, is the real story, I would think. What hold does York, or whoever they are representing, have over SCO? Personally, I discount morals.

Happily, I'm not SCO, so I don't have to think up junk like that or worry my pretty little head over it. Poor SCO. Apparently, they do have to.

Full post as published by Groklaw on August 11, 2008 (boomark / email).