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Apple And GTAT Part Ways. Cause Of Bankruptcy Remains Shrouded In Secrecy

GTAT

Apple and GT Advanced Technologies struck an agreement that will result in the destruction and sealing of documents that explain what led to GTAT’s bankruptcy. Complete details of the arrangement are not yet available, but they should be filed on Friday. The deal may not end the relationship, since the two companies parted on “amicable terms.” The Mesa, AZ sapphire ... Read More »

Latest BK Filing Indicates That GTAT And Apple Are On The Cusp Of A “Global Settlement”

GTAT

The parties are on the cusp of a consensual global settlement and the further extension is necessary to allow the parties to continue to discuss certain issues related to the Supplemental Squiller Declaration, the Apple Agreements, and the Apple Objection. Also, the parties do not expect that they will require another extension. GTAT submits that granting such relief is in ... Read More »

GTAT: September 19, The Day The Music Died

GTAT

  GTAT’s general counsel fees with Ropes & Greys (R&G) began to surge on September 19. GTAT signed confidentiality agreements with financial and restructuring advisors on September 19. GTAT soon retained these advisors with the goal of improving financial and operating performance as well as issuing new capital through either debt or equity offerings. GTAT had announced on September 15 ... Read More »