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august1991

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august1991

Re: feetfirst post# 13491

Wednesday, 11/19/2014 2:04:19 PM

Wednesday, November 19, 2014 2:04:19 PM

Post# of 41703
GT-Apple settlement hearing pushed back to Dec. 10 • 1:54 PM

Eric Jhonsa, SA News Editor
A hearing for GT Advanced's (OTCPK:GTATQ +5.6%) settlement hearing with Apple has been postponed to Dec. 10 from Nov. 25, to give more time to investigate possible objections from creditors.
Apple's settlement with bankrupt GT gives the company a $439M claim secured by 2K+ sapphire furnaces that GT plans to sell. Nonetheless, Apple has said it will "continue evaluating" GT's sapphire progress.
In court docs unsealed earlier this month, GT accused Apple of pursuing "a classic bait-and-switch strategy" that left GT saddled with "an onerous an massively one-sided deal."
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