I sent this out earlier today:
We are working with the Software Freedom Law Center & Eben Moglen on the creation of the illumos legal entity. Nexenta have enlisted the help of Damien Eastwood (one of the more prominent former Sun lawyers) to help drive this. Jason Yoho at Nexenta is driving this fairly hard as well, so there are now more people than just me pushing this forward as quickly as we can.
We have set a goal that the legal entity (an illumos foundation) should exist with legal presence before the year's end. I'm told that this is an achievable goal.
I'll have more updates on this soon, I expect, but the process is moving forward.