GT Advanced Technologies Inc fka GTAT

[lecorb]

GT Advanced seeks to wind down sapphire manufacturing ops
.

Oct 9 2014, 19:18 ET
GT Advanced (NASDAQ:GTAT) plans to file a motion seeking authorization to wind down operations at its sapphire manufacturing plants, and has been ordered (.pdf) by bankruptcy judge Henry Boroff to immediately file it. A hearing on the motion is set for 2PM ET on Oct. 15.
Boroff also orders GT (referred to as "the Debtor") to "provide all such information as shall be reasonably requested to any party in interest and the United States Trustee and, in the Debtor’s sole discretion, to the public press, except that in the event that any such information relates to the details of the Debtors’ business relationship with Apple."
The order follows a GT request to keep its bankruptcy hearing (with Boroff and Apple) and court documents private. The WSJ says it "inquired about registering a protest over GT’s motion to seal the documents that explain what went wrong between GT and Apple," but didn't receive a response before today's court session.
GTAT -27.9% AH to $0.93
http://seekingalpha.com/news/2024265-gt-advanced-seeks-to-wind-down-sapphire-manufacturing-ops?app=1&uprof=44#email_link