This is actually a great news for GTAT shareholders. Here are why:
1. It will shut up the bondholders and make them accept the Settlement ASAP, saving valuable time and speeding up CH 11 process. They were about to reject the Settlement and make the company sue Apple; nothing good for shareholders would have come of it.
2. We now know that Apple wanted as much sapphire as could be produced to the very end, and will not give up on it. The problem was production issue, not rejection or indifference or change in business plan. This is extremely important because it alludes Apple will come back any time for more sapphire.
3. We know Apple was willing to provide 100 million financing, delay repayment date, increase purchase price and GT rejected them all, opting for the CH 11 petition. That means insolvency or liquidity was not the reason for this CH 11. It was a strategic move on the part of GT to rid of sapphire production and to focus on its core businesses such as furnace production, Merlin and Hyperion.
