CDC Software, which is not part of the Chapter 11 filing, markets the Ross and Pivotal lines. CDC was sanctioned by a New York court for, among other things, knowingly submitting false testimony in the case and its CEO Peter Yip had been placed on administrative leave. On October 4, the day of the Chapter 11 filing, a special committee unanimously agreed Yip had provided false testimony under oath and he was removed as CEO of CDC Software and of CDC as well based on the committee’s recommendation. The committee also found that Yip continued to make management decisions while on leave. Days later, John Clough resigned as chairman, director and interim CEO of CDC Software while remaining chairman of the parent. Lee Lam took Clough’s place as chairman of CDC Software but then resigned on October 16 and has not been replaced. Yip threatened legal action and the board noted he had placed himself on medical leave on October 12 and on October 16, the directors voted three to two to place him on medical leave for not less than 12 months. Dr, C.K. Wong is now serving as interim CEO. This all goes back to the attempts by CDC Software to dodge the redemption by holders of $42.4 million of 3.75 percent Senior Exchangeable Convertible Notes due 2011. Those notes were held by an entity called Evolution and some related entities. Evolution sued late last year after in November CDC Software told the bondholders that it had removed the redemption privilege. I believe that in corporate governance circles this is what is termed a god-awful mess.