SCO Group, which
filed
for bankruptcy protection last year after losing its fight to claim
ownership of Unix, has asked for more time to get itself reorganised.
The company has petitioned a Delaware bankruptcy court for a 90-day extension
of its businesses reorganisation, which has already seen key staff
leave
in droves.
SCO's request comes despite the company receiving a
$100m
cash injection from venture capitalists.
"The debtors and [private equity firm] Stephen Norris Capital Partners have
been working to modify the financial structure of the Plan in order to, among
other things, improve its debt/equity ratio," reads the
court
papers (PDF).
"The parties continue to make good faith progress towards improving the
structure of the transaction.
"The 90-day extension will provide the necessary time to negotiate and
prepare adequate information to amend the Plan and revise the Disclosure
Statement, including the definitive documents required for the transaction."
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