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SCO Files Chapter 11 Reorganization Plan
SCO filed a Chapter 11 Reorganization Plan and Disclosure Statement with the bankruptcy court in Delaware on Friday, a step on the company's path to emerging from the protective cover of bankruptcy, going private, and rejoining the fight over Linux. Pending court approval, the 63-page document says SCO is going to pay off all its qualified creditors in full on the plan's effective date - well, at least the ones that aren't counting on a windfall by way of litigation. It will also seat a new board and, possibly, enthrone a new CEO.
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