As Apple and would-be sapphire supplier GT Advanced Technologies come closer to a settlement following the latter’s recent bankruptcy announcement, GT’s creditors will get to take a look under the wraps of the secretive Cupertino tech giant.
As noted earlier today by the Wall Street Journal, Apple will provide GT’s creditors with documents regarding the companies’ arrangement in response to inquiries attempting to determine whether the proposed settlement is fair, or whether Apple is trying to take advantage of the situation.
GT blames Apple for the shortcomings that led to its decision to go bankrupt, though Apple disputes that claim. As was reported last week, new details about the relationship between the two companies has highlighted many issues with the failed partnership, including serious mismanagement issues and financial irresponsibility at GT, paired with a lack of experience in sapphire crystal production.
Apple has said that it plans to keep close tabs on which documents the creditors have access to, and will attempt to prevent them from seeing some information. Judge Henry Boroff, however, says that in order for Apple to keep some documents secret, those documents will need to meet a very specific set of standards.
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