Do not expect substantive results from initial bkrty hearing. It is more of a getting to know each other session. Everyone will be told the rules. (Apple may gripe a lot, but it will just be posturing).
Bkrty is to protect not only the debtor (GTAT), but also other creditors. The court will not allow Apple to do anything that endangers other creditors.
It will take time to notify all creditors, and inventory the debts and obligations at issue. Then the debtor (GTAT) will get to propose a plan of reorganization (which will involve extensive negotiations). The plan has to be approved by ALL creditors, not just Apple, AND the judge.
Attorneys will bill thousands of hours on all sides. I.e., no quick results.
If GTAT still has revenues, there is a good chance it may survive. No one will know for months.
I would never presume to give advice of any kind to such worthy and knowledgable comrades. You should therefore do your own research rather than pay attention to the ramblings of this old man.
