Apple Objects to GTAT Financing Plan

Apple is objecting to bankrupt GT Advanced Technologies (GTAT) financing plans, saying the terms would undermine the settlement the two companies reached last year, reported Re/code.

GTAT aims to restructure by raising $95 million loan agreement under the supervision of the U.S. Bankruptcy Court for New Hampshire, reported Apple Insider. Yet, the financing plan is dependent on the amount of insurance money the company receives to repair its damaged sapphire furnaces, after a fire broke out at the former Mesa, Arizona facility in May 2015.

Apple is concerned with certain provisions of the loan related to the May fire at the Arizona facility, which could give lenders too much leverage to foreclose on the furnaces. The Cupertino Company argued GTAT had indicated the damage was minimal.

Some GTAT investors have questioned why the company was asking for more finances after it announced bankruptcy in October 2014. 

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

Tokushima, Japan - 6 March 2024: Nichia, the world's largest LED manufacturer and inventor of the high-brightness blue and white LED, has started mass production of the new UV-B (308nm) and UV-A (330nm) LEDs in its popular 434 Series packa... READ MORE

New XLamp® S Line LEDs enhance growth, last longer, lower energy costs Horticulture and other forms of agricultural lighting require application-tuned ratios of spectral content, high efficacy and long lifetimes. Whether you are interested... READ MORE