More than a year ago, Apple’s sapphire supplier GT Advanced Tech announced that it was filing for bankruptcy under Chapter 11, with the company parting ways with Apple as part of the restructuring. Despite the parting being amicable, GT still was in debt $439 million. Today, however, The Wall Street Journal reports that GT and Apple have come to an agreement on how to pay off that debt.
GT Advanced Tech Stories November 3, 2015
GT Advanced Tech Stories October 14, 2014
Apple is seeking to keep its involvement in GT Advanced’s Chapter 11 bankruptcy filing secret as it reportedly asked courts to file its objections in the case under seal. Bloomberg reports that Apple has requested permission to keep its comments in the case secret to avoid disclosing “confidential research, development, or commercial information regarding Apple’s business processes.” expand full story