News

SCO told the truth for sure in at least one respect in its recent 10Q, namely that it expected its legal and other professional fees going forward in the bankruptcy would be substantial:

Furthermore, so long as the Chapter 11 cases continue, we will be required to incur substantial costs for professional fees and other expenses associated with the administration of the cases. A prolonged continuation of the Chapter 11 cases may also require us to seek financing. If we require financing during the Chapter 11 cases and we are unable to obtain the financing on favorable terms or at all, our chances of successfully reorganizing our businesses may be seriously jeopardized.

I take this and other such wording in the 10Q as SCO suggesting that some entity out there might like to settle the litigation, so it can get something instead of nothing. And indeed here comes Dorsey & Whitney filing for their legal services for January, a total of $22,799.25. Mesirow filed its third monthly bill also for financial advice in January and February, and it comes to a total of $82,847.70. It was supposed to be $92,053.00, Mesirow says, but it voluntarily reduced by 10% as a rate reduction. What’s it all for? The breakdown in both bills is fascinating.