SCO Asset Auction Assigned
An auction will be held on October 25 at which SCO Group's assets will be put up . The sale is part of a bankruptcy case.
The SCO Group is an American company engaged in the development of system and application software. Formerly known as Caldera Systems, it has been developing and deploying its GNU / Linux distribution.
The company gained fame in wide circles due to several lawsuits against corporations, accusing them of illegal use of UNIX system code. The most notorious of these was the trial against IBM in 2003. SCO accused IBM of illegally injecting part of the SCO code into the Linux kernel. In August 2007, it became known that, by a court order, Novell had rights to UNIX and UnixWare, and claims from SCO were unfounded. The court also ruled that "SCO, at the request of Novell, is required to waive claims against IBM and other companies."
On September 5, 2007, SCO declared itself a temporary bankrupt in order to protect against creditors. The company later tried to get financing and drew up a reorganization plan. She also filed an appeal against the Novell court decision, in which the court annulled the previous decision. But after further investigation, the court again recognized Novell as the owner of UNIX copyright.
As part of the reorganization, SCO planned to hold a public auction, during which the company's assets related to the mobile business and Unix OpenServer products will be put up for sale. Assets can be sold individually or together. However, if there is no buyer for some assets, SCO planned to develop its product lines on its own.
And now it became known that Chapter 11, the trustee of SCO Group, will sell the company's assets at an auction on October 25. Last week, a bankruptcy judge agreed on a sale procedure. By his decision, bets must be made before October 15. But so far no buyers have been found.
After bankruptcy, SCO's total assets are valued at $ 14.2 million, and the company has a debt of 5.2 million.