"Chapter 11 reorganization provides the company with an opportunity to protect its assets during this time while focusing on building our future plans," said Darl McBride (pictured), president and CEO of Lindon, Utah-based SCO Group in a statement accompanying the company's voluntary petition for reorganization under Chapter 11 of the United States Bankruptcy Code.

Subject to court approval, SCO and its subsidiaries will use the cash flow from their consolidated operations to meet their capital needs during the reorganization process.

Trading of SCO's stock has been halted, though - according to a press release - "The SCO Group intends to maintain all normal business operations throughout the bankruptcy proceedings." It is hardly coincidental that on Monday September 17, Judge Dale kimball was due to hear the remaining issues in SCO vs. Novell, a hearing that will now be stayed as a result of the filing.

"The Board of Directors of The SCO Group have unanimously determined that Chapter 11 reorganization is in the best long-term interest of SCO and its subsidiaries, as well as its customers, shareholders, and employees.," said the company's statement, adding:

"The SCO Group has filed a series of first day motions in the Bankruptcy Court to ensure that it will not have any interruption in maintaining and honoring all of its commitments to its customers. The motions also address SCO's continued ability to pay its vendors, the retention of various professional advisors, and other matters." 

Last month a judge ruled that Novell, and not SCO as it had long been claiming, owned the copyrights for the Unix system.

Is it finally the end of SCO? No one can ever say that for sure, but as one commentator has already said: "Tell the fat lady to start warming up."

• 'ESR' Writes Open Letter to Darl McBride
• Darl McBride Tops the Linux.SYS-CON.com Reader-Response Index in Q4
• "I Wasn't Brought In to Have Warm Fuzzies with Slashdot," Says McBride
• Darl McBride's 5 Reasons Why SCO Can *STILL* Win vs IBM
• SCO's McBride: "I'd Sue IBM Again 10 Times Over"
• "We Are Under Attack From What I Call 'Hurricane Linux'," Says McBride
• SCO Stock Down 71.3% Mid Day Trading on Monday