SCO files for US bankruptcy protection
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Lawyers got theirs SCO Group today filed for bankruptcy protection. With less than $10m cash left to call on, SCO said that Chapter 11 protection and reorganization would protect assets as it addresses, ahem, "potential financial and legal challenges".â¦
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After losing a court ruling to Novell and then seeking Chapter 11 bankruptcy protection, The SCO Group said that there is "substantial doubt" about its ability to continue as a viable business.
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The Yukos oil company has filed for bankruptcy in the United States and appealed for a temporary restraining order against the auction of its main production unit that is scheduled for Sunday &#151; dramatically challenging the Russian government to enter arbitration proceedings.
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Enough to pay the lawyers off The SCO Group, which earlier this month filed for bankrupcy protection, says it has received an offer for its Unix business.â¦
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The Yukos oil company has filed for bankruptcy in the US and appealed for a temporary restraining order against the auction of its main production unit, scheduled for Sunday.
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The embattled Yukos oil company has filed for bankruptcy in the United States and appealed for a temporary restraining order and injunction against the auction of its main production unit that is scheduled for Sunday.
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MOSCOW - Embattled Russian oil giant Yukos filed for bankruptcy protection in a US court in a last-ditch bid to avert auction of its core production unit.
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The seventh largest US air carrier, US Airways, has filed for bankruptcy protection for the second time in two years. The airline asked a federal court in for restructuring protection Sunday after failing
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A lost legal struggle with Linux distributor Novell, an apparently truncated fight with IBM, a bankruptcy filing in September...and now, a NASDAQ delisting. Is there any hope at all left for floundering PC Unix vendor SCO?
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Russian oil major YUKOS has filed for bankruptcy protection in a US court and will seek an injunction to stop Russia from auctioning off its main production unit on Dec. 19, it said on Wednesday.
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Russian oil giant Yukos files for bankruptcy protection in the US in a last ditch effort to stop the Kremlin auctioning its main production unit.
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US Airways Group Inc., the nation&#39;s seventh-largest airline, filed for bankruptcy protection Sunday for the second time in two years.
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The Russian oil giant files for bankruptcy protection in the US to try to stop the sale of its main production arm.
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Russian oil group YUKOS has filed for  bankruptcy protection in a U.S. court in an attempt to stop  Russia's government from auctioning off its main production  unit on Dec. 19, it said on Wednesday.
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US Airways Group Inc. , squeezed severely by low-cost rivals and soaring fuel prices and failing in its drive for new labor concessions, filed for bankruptcy protection on Sunday for the second time in two years.
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The airline industryâs financial crisis deepened yesterday as cash-strapped US Airways Group Inc., the nationâs seventh-largest carrier, filed for bankruptcy protection for the second time in two years.
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(InfoWorld) - With its cash reserves running out and its legal case against IBM unravelling, The SCO Group now says there is doubt that it will remain afloat. SCO made the statement in its most recent quarterly U.S. Securities and Exchange Commission statement, filed Tuesday. The company citedÂ its recent motion for Chapter 11 bankruptcy protectionÂ as well as a recent court setback relating to its intellectual-property claims as reasons for worry. "As a result of both the Court's August 10, 2007 ruling and the Company's entry into Chapter 11, there is substantial doubt about the Company's ability to continue as a growing concern," SCO said in the filing. Last month a judge with the U.S. District Court for the District of UtahÂ ruled against SCO on several motions, finding that Novell, rather than SCO, owned the Unix copyright. Novell had sold SCO some Unix rights in the mid-1990s, but the court said that copyright was never assigned. "The effect of these rulings was to significantly reduce or to eliminate certain of the Company's claims in both the Novell and IBM cases, and possibly others," SCO said in its SEC filing. Several of the company's claims against IBM will be dismissed as a result of this ruling, SCO said in the filing, adding that there are still certain claims that remain viable, such as SCO's allegation that IBM engaged in unfair competition in its failed "Project Monterey" effort that was to create a Unix for 64-bit microprocessors. The rulings may also cost SCO a lot of money. The court said that SCO would have to pay Novell for past licensing deals it had struck with Sun Microsystems Inc. and Microsoft. This could amount more than $30 million, SCO said in its SEC filing. That's more than the $10.4 million in cash now held by SCO. The rest of the 10-Q statement, which covers the quarter ended July 31, is a litany of bad news. SCO's total revenue has dropped drastically year-over-year, its Unix business is down 37 percent, it made nothing from its SCOsource Linux licensing program, short-sellers may further drive the stock down, and the bankruptcy proceedings will divert a "significant amount" of senior management's time away from business operations, the filing said. SCO did not immediately return calls seeking comment. The company's detractors were not so quiet. The filings show that by declaring bankruptcy, SCO is hoping to stave off paying Novell the money it owes, said Pamela Jones, editor of the Groklaw.net blog, which has closely followed SCO's litigation. "They are, to my eyes, saying they don't want to hand over the Sun and Microsoft 2003 monies because it would put them out of business," she said.