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SCO's Exclusive Time to File a Plan Extended to May 11 - And New Stock Options

By Pamela Jones et al.

There are quite a few filings in the SCO Bankruptcy. The ones that will interest you the most, however, are that the time for SCO to exclusively file a Chapter 11 reorganization plan has been extended until May 11. It was an inevitability, in my view, because the trial in SCO v. Novell doesn't begin until April 29, and until SCO knows what it must pay Novell, it can't realistically file a reorganization plan. For that matter, neither can anybody else. And there are three new omnibus hearings scheduled, for 3/7/2008 at 02:00 PM., 4/18/2008 at 01:30 PM., and 5/15/2008 at 10:00 AM. And SCO has filed its monthly operating report for December.

Update: There are new SEC filings, noting that the following have options on 10,000 shares at 8 cents:

• Duff Thompson
• Darcy Mott
• Daniel W. Campbell
• Ralph J. Yarro
• Omar T. Leeman
• J. Kent Millington

I don't know why, but it reminded me of the Stockholder Rights Plan. Also, just to remind you of all the details, Thompson surrendered 11,000 some shares for no consideration in January.

Full post as published by Groklaw on February 05, 2008 (boomark / email).