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[News] SCO's Ralph Yarro Wants to Inject Money into Anti-Linux Lawsuit

  • Subject: [News] SCO's Ralph Yarro Wants to Inject Money into Anti-Linux Lawsuit
  • From: Roy Schestowitz <newsgroups@xxxxxxxxxxxxxxx>
  • Date: Sun, 21 Feb 2010 09:11:01 +0000
  • Followup-to: comp.os.linux.advocacy
  • Newsgroups: comp.os.linux.advocacy
  • User-agent: KNode/4.3.1
Hash: SHA1

SCO vs. Linux: SCO majority owner wants to finance SCO

,----[ Quote ]
| In the dispute between the SCO Group and 
| Novell about the copyright for Unix, the new 
| jury trial scheduled to begin on the 8th of 
| March is apparently set to go ahead: according 
| to a statement by Chapter 11 trustee Edward 
| Cahn, SCO's majority owner Ralph Yarro wants 
| to inject a loan of $2 million dollars into 
| the financially stricken company.
| Legal observers at Groklaw reported that Ralph 
| Yarro intends to finance the loan via his 
| investment company, Seung Ni Capital Partners. 
| The loan is termed to run for a year at an 
| interest rate of 6.6%. SCO will have to repay 
| the loan before settling its other open debts. 
| Among these is a court order to pay $2.5 
| million to Novell. Earlier, trustee Cahn had 
| told the bankruptcy court that SCO was in 
| urgent need of further funding if it was to 
| survive the new trial. The trustee said that 
| without further funding he would not be able 
| to continue SCO's business.


Ralph Yarro, SCO's "former Chairman" wants to loan SCO $2M - Updated - Oct. MORs & Motion Granted, Withdrawn

,----[ Quote ]
| You've been expecting this, I'm sure. Ralph 
| Yarro wants to loan SCO some money, $2 
| million, or more accurately up to $2 million, 
| and the SCO trustee, Edward Cahn, wants to let 
| him. It's all at "arm's length" and "in good 
| faith" negotiations with this SCO insider, 
| don't you know. So, does this mean nobody else 
| wants to fund SCO? No potential buyers? Just 
| Ralph? And Cahn asks the court to please 
| shorten the time to handle the motion. Is SCO 
| on its last legs or something?
| The motion calls Yarro the "former Chairman" 
| of SCO's board of directors. See all the stuff 
| you can hide if you don't file MORs or with 
| the SEC, despite being a public company? Say, 
| didn't Cahn promise to file those MORs by now? 
| What, they look too awful? Still, they're 
| supposed to be filed. Well, well. SCO's MO 
| seems to be catching. Delay, delay, delay 
| while they keep their greedy hand reaching 
| desperately for the brass ring.
|     "The Trustee is advised that Seung Ni 
|     Capital Partners, L.L.C. is a newly formed 
|     entity formed by Ralph J. Yarro III 
|     (âYarroâ) and was created for the purpose 
|     of providing postpetition financing to the 
|     Debtors. Since Yarro is the former 
|     Chairman of the Debtorsâ Board of 
|     Directors and the Debtorsâ largest 
|     shareholder, Yarro is an insider pursuant 
|     to Bankruptcy Code section 101(31). See 11 
|     U.S.C. Â 101(31). The Trustee represents 
|     that at all times the negotiations among 
|     the Trustee, his advisors and Yarro were 
|     at arms-length and in good faith." 
| Wait. Look at page 2. It's a loan from Ralph 
| in public and "other lenders from time to 
| time". Uh oh. Page 3:
|     9. In accordance with the Credit 
|     Agreement, additional Lenders may also 
|     make loans to the Debtors under the Credit 
|     Facility from time to time.
| Not another weirdo deal with shadows... 
| Remember the York deal in 2007, speaking of 
| shadows? It was a Super Dooper Senior Secured 
| Super-Priority Credit Agreement too. We'd 
| better look at the exhibits, which set forth 
| the precise terms. I'll swing back by after I 
| do that.
| [...]


Novell's Daubert Motions: We Finally Get to Read 3 of SCO's Experts' Reports


Novell's Motion for Leave to Reply to SCO's Opposition to Motion in Limine # 1 - As Text


Dr. Gary Pisano's Expert Report for SCO


Judge Stewart Denies Novell's Motion in Limine #1



,----[ Quote ]
| Presumably Novell will soldier on with this 
| handicap and SCO gets to bring up years of 
| irrelevant evidence as it did before. How the 
| trial can go in two or three weeks with this 
| Pandoraâs box now opened is beyond me.
| Another strange thing. The judge made his 
| ruling without a hearingâ That can happen if 
| the matter is clear but there is obviously a 
| dispute. Why not have it out in a hearing? I 
| fear the fix is in. SCO is getting everything 
| its own way, even having Utah law applied to a 
| California contract. Novell will have to start 
| all over again in SCOTUS. How many years will 
| it take?





What happens next in SCO vs. Novell

,----[ Quote ]
| With that being the case, and there being no chance whatsoever of SCO
| successfully pursuing a Linux lawsuit, I strongly suspect that the Trustee
| will drop all of SCO's lawsuits and spend his time on rendering down SCO's
| remains into pennies on dollars. Rationally, there's nothing left to do, and
| with a reasonable person now in charge of SCO's remains, that's what I expect
| to happen.

Version: GnuPG v1.4.9 (GNU/Linux)


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