SCO Files for Chapter 7: “There is no reasonable chance of ‘rehabilitation’

SCO Group has now filed for Chapter 7 bankruptcy protection. They are in Chapter 11 now. What is the difference? Chapter 11 means you are trying to reorganize and survive as a corporate entity. Chapter 7 means you’ve given up the ghost and are shutting down. But not SCO. They want the litigation with IBM to continue. 
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