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Re: SCO-Novell Lawsuit Finally Going to Trial ... and the beat goes on!
From PRNewswire
March 15, 2010 - quote:
The SCO Group Announces $2 Million in Financing
Lenders to fund operating, administrative and litigation expenses
The SCO Group, Inc., today announced that it had secured Bankruptcy Court approval and funding for $2MM in postpetition financing in the form of a secured super-priority credit facility from a group of private lenders. Proceeds from the financing will be used to fund the company's operating and administrative expenses, as well as litigation-related expenses.
This financing is intended to allow for the preservation of the value of the Company's business while enabling the Company to proceed with asset sales, continue supporting SCO's loyal UNIX customer base and to pursue litigation against, among others, IBM and Novell.
"The financing is intended to enable SCO to continue to sell and support its products while servicing the needs of our customers and partners on a worldwide basis through the bankruptcy period," said Ken Nielsen, chief financial officer, The SCO Group.
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