SCO Group's U.S. Trustee objects to disclosure statement

By Jennifer Lanning Drey

Portland, Ore., March 28 - SCO Group, Inc.'s U.S. Trustee objected to the company's disclosure statement for its plan of reorganization, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

In the filing, U.S. Trustee Kelly Beaudin Stapleton argued that SCO's disclosure statement does not describe the company's business plan or financial projections in sufficient detail.

Additionally, she said it does not describe the possible impact of a potential adverse ruling related to litigation in which the company is involved.

Stapleton further argued that the disclosure statement does not contain adequate information about Stephen Norris Capital Partners, LLC and its ability to provide exit funding.

As previously reported, Stephen Norris Capital and its partners from the Middle East have agreed to provide up to $100 million to finance SCO Group's plan of reorganization.

A hearing had been scheduled for April 2.

SCO, based in Lindon, Utah, develops UNIX software technology for distributed, embedded and network-based systems. The company filed for bankruptcy on Sept. 14, 2007. Its Chapter 11 case number is 07-11337.

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