“Creditors of failed smartphone screen material supplier GT Advanced Technologies will get a peek at Apple Inc. ’s secrets under a protective court order signed Tuesday,” Peg Brickley reports for The Wall Street Journal.
“Apple is handing over documents and submitting to questions in advance of a planned December court review of a proposed settlement with GT, which would clear Apple of allegations it is to blame for GT’s bankruptcy,” Brickley reports. “The information exchange is under wraps, but anything creditors seize on as grounds to challenge Apple’s deal with GT will have to meet strict standards to justify the secrecy, Judge Henry Boroff warned the companies at a hearing Tuesday in the U.S. Bankruptcy Court in New Hampshire.”
“Earlier this month, the judge ordered documents detailing the saga unsealed, after Dow Jones & Co., which publishes The Wall Street Journal, challenged the confidentiality designations,” Brickley reports. “On Tuesday, the judge endorsed an agreement allowing Apple to hand over data to creditors’ lawyers in private but leaves open the question of whether a stamp of ‘confidential’ on a document will stand up if the information comes into play in court.”
Read more in the full article here.
Related articles:
Apple, GT Advanced and the ‘boule graveyard’ – November 20, 2014
Lack of experience, mismanagement doomed GT Advanced’s sapphire adventure – November 19, 2014
GT Advanced Tech creditors chafe at settlement deal with Apple – November 19, 2014
Apple sticking with Arizona plan after sapphire supplier GT Advanced falters – November 18, 2014
Did Apple bully GT Advanced Technologies? – November 11, 2014
GT Advanced COO claims Apple used ‘bait and switch’ tactic – November 7, 2014
Court unseals GT Advanced documents: Apple says it ‘bent over backwards’ to help sapphire supplier – November 7, 2014
GT Advanced blames ‘oppressive and burdensome’ Apple terms in quest to ax sapphire production – October 10, 2014
HIndsight: Let the product come to the point of ready-to-market; then negotiate.
WHO is the daddy of GT Advanced’s bankruptcy baby??? Time for the DNA test.
‘Hand me the envelope Hal!’…
[Go to commercial]
Vito
In a case like this many times it much easier to the money to get to the truth.
GTAT executives, inside shareholders and management raked in millions upon millions in salaries and stock options. Everyone else from investors, workers, the city where the factory is located and Apple all will lost millions upon millions.
Again, their attorney’s get paid to defend them even if it reeks of FRAUD. Unfortunately, these people won’t go to jail and it will be very difficult to get any reimbursement to those who lost money. Personally, in cases like this I prefer the way the mafia handles situations like this. Who know, maybe they ripped off a couple of the wrong people. hehe
Wow, I must have been drunk when I wrote this. Sorry about the missing words. Haha, hiccup.