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lecorb

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lecorb

Re: kingsransome post# 4154

Thursday, 10/09/2014 12:41:30 PM

Thursday, October 09, 2014 12:41:30 PM

Post# of 41703
GT Advanced requests bankruptcy details remain sealed
.

Oct 9 2014, 12:14 ET
Squashing hopes that today's hearing would unearth crucial details about GT Advanced's (GTAT +2.3%) Chap. 11 filing, a lawyer representing the company stated a confidentiality agreement prevents it from sharing the cause of its bankruptcy, or its restructuring plan.
The agreement, said to put GT on the hook for $50M in damages per violation, almost certainly involves Apple, which is famous for demanding airtight secrecy from suppliers.
A lawyer from the DOJ's bankruptcy watchdog criticized GT's request. "The record is insufficient for the court to find what the court needs to find

http://seekingalpha.com/news/2023205-gt-advanced-requests-bankruptcy-details-remain-sealed?app=1&uprof=44
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