Blank Rome, the law firm for Chapter 11 Trustee Edward Cahn, has submitted its first bill. The bill is for the time period that covers the termination of Darl McBride and other employees, so it's fascinating, but I also get a much clearer picture from it of what Blank Rome's position is and why. And one thing comes through on this bill: they don't miss much. And they are very, very careful to record it all, research what needs researching, and make their moves decisively, but with prior deliberation. I'd hire this firm any day. It's refreshing, even if they may not take the position I would want them to. Yet.
So I'd call this bill The Education of Blank Rome. And my preliminary impression is that they are honest people, who got an unholy mess dumped in their laps and are carefully picking through everything, trying to figure it all out. And they've made real progress in doing so. The bill is for $229,214, which you and I would view as a lot of money that SCO will never win back in the crazed litigation follies, but they don't know that yet. It will be interesting to see what happens once they get that part figured out. I seriously doubt they will ever be paid in full. The deeper they go, the worse it gets, unless there is a pot of gold at the end of the rainbow. Boies Schiller is in so deep now, their only hope is to follow the rainbow, but Blank Rome is in a different situation, and they may not enjoy gambling as much as David Boies is said to.
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