Monday, September 17, 2007
SCO Files For Chapter 11 Bankruptcy
The SCO Group Inc., a developer of UNIX-based software and mobile services, reported late Friday that it has filed for Chapter 11 Bankruptcy. SCO is best known for its efforts to sue IBM for its contributions to Linux, a long running legal effort which has cost the company millions in legal fees. SCO first sued IBM in 2003. SCO's subsidiary, SCO Operations, has filed a similar petition, The SCO Group said. The Lindon, Utah-based company explained that its board of directors unanimously decided reorganization under the U.S. Bankruptcy Code would be the best long-term solution for SCO and its subsidiaries, customers, shareholders and employees. However, The SCO Group said it intends to maintain all normal business operations throughout the bankruptcy proceedings. The SCO Group added that it has filed a series of first-day motions in bankruptcy court so that it will be able to honor all of its commitments to its customers, vendors and professional advisors.