March 4, 2008

SCO Files Formal Chapter 11 Reorganization Plan

Author: JT Smith

While we've known about SCO's new $100 million lifeline for a few weeks, SCO formally filed its Chapter 11 Reorganization plan only at the end of last week (Feb 29th). In a FORM-8K SEC filing this morning SCO revealed that the formal filing has now occurred with the Bankruptcy Court.

What this means in plain English is that the $100 million bailout (which is really just $5 million up front with the rest on credit) is a little closer to reality today than it was two week ago.



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