Thread regarding Sungard Availability Services layoffs

The Debtors Cancelled The Auction Sale...

The Debtors Cancelled The Auction Sale...with respect to colo, network, and workplace. The rest (sale of the remaining) is adjourned to a date yet to be determined.

Case 22-90018 Document 532 Filed in TXSB on 07/29/22

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Post ID: @OP+1hYgRSbQ

15 replies (most recent on top)

No one wants this mess and no one can figure out how to fix it. Gee, how many current and former employees told S-Gas this over the past XX years.

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Post ID: @3jxh+1hYgRSbQ

@2rru+1hYgRSbQ it means the company found someone to purchase those assets. Other assets (whatever they are) are being auctioned separately at another date.

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Post ID: @3igf+1hYgRSbQ

ACS is no longer a company…. Bought out of bankruptcy by xerox and shed shortly after. Frankly, not sure that Xerox is still around…..

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Post ID: @3rar+1hYgRSbQ

Is ACS still a customer? They did $1.8m MRR back in 2008. The glory days of RS

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Post ID: @3ecp+1hYgRSbQ

@2uff If customers were smart, they should review the fine print in the MSA.

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Post ID: @2fxu+1hYgRSbQ

Does this mean those units are being taken in-house under the new restructured company?

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Post ID: @2mdx+1hYgRSbQ

@2bkj That all depends on how stupid the customers really are, really. I can't imagine anyone who cares about their business has a very high confidence in SGAS right now.

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Post ID: @2uff+1hYgRSbQ

Until the Golden Goose lays its last egg

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Post ID: @2glg+1hYgRSbQ

I'll venture a guess. It (might) means people weren't clamoring in to buy the jo--t or parts of it, so the debtors can eventually buy the place back on the cheap, and eliminate a good chunk of the debt. Pure speculation. Even if remotely the case, how many times can a company take this course of action (bankruptcy and all it entails).

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Post ID: @2bkj+1hYgRSbQ

Can someone shed some light on what these means ? Did they get bailed out again ?

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Post ID: @2rru+1hYgRSbQ

@2ora+1hYgRSbQ Nada.

I'll still be in the park having my croissant. Rain might put a damper on the magic show and evening movie on the green.

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Post ID: @2ohj+1hYgRSbQ

So is anything going up for auction today then?

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Post ID: @2ora+1hYgRSbQ

Even without the auction sale, the legal bill is $1.3 million + for June alone, at well over 1K an hour! And you thought your tech jobs paid well. ;) Even the paras make over 300 hr.

Case 22-90018 Document 525 Filed in TXSB on 07/27/22

Seems like this particular doc has gone missing from the docket. Wouldn't want you to see it perhaps.

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Post ID: @1cmm+1hYgRSbQ

Chapter 11 filing cancelled and Prime Clerk terminated. I guess all is well now???

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Post ID: @1rtl+1hYgRSbQ

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