{"id":34196,"date":"2014-10-16T10:12:42","date_gmt":"2014-10-16T14:12:42","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=34196"},"modified":"2014-10-16T09:40:11","modified_gmt":"2014-10-16T13:40:11","slug":"gt-advanced-technologies-inc-nasdaqgtat-bankruptcy-hearing-postponed-to-october-21-2014","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/gt-advanced-technologies-inc-nasdaqgtat-bankruptcy-hearing-postponed-to-october-21-2014-34196","title":{"rendered":"GT Advanced Technologies Inc. (NASDAQ:GTAT) Bankruptcy Hearing Postponed To October 21, 2014"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 10\/16\/2014 (wallstreetpr) \u2013 <strong>GT Advanced Technologies Inc. (NASDAQ:GTAT)<\/strong> push to close down business after filing for <a href=\"http:\/\/www.bloomberg.com\/news\/2014-10-15\/gt-advanced-delays-hearing-on-sealed-documents-wind-down.html\" target=\"_blank\">bankruptcy<\/a> is set to take longer than initially thought as a hearing on the same has been pushed to the 21st of October. A number of creditors as well as <strong>Apple Inc. (NASDAQ:AAPL)<\/strong> have already agreed to the postponement according to the filling on a U.S bankruptcy Court in Manchester.<\/p>\n<p style=\"text-align: justify;\"><strong>Intricacies of the Filing <\/strong><\/p>\n<p style=\"text-align: justify;\">The hearing has been delayed to allow a set-up committee to sign a number of confidentiality documents, as well as give the preceding judge time familiarize himself with happenings of the case. There are a number of factors that are slowing the bankruptcy process especially a sealed confidentiality agreement between Apple and GT Advanced Technologies Inc. (NASDAQ:GTAT).<\/p>\n<p style=\"text-align: justify;\">The ailing Saphire Company is trying to seal a number of agreements it made with Apple Inc. (NASDAQ:AAPL) to avoid a penalty of up to $50 million being imposed on it. The State as well as the department of Justice have already objected to the way a number of documents are being concealed. Apple has already been asked to provide all the documents related to its contract with GT Advanced Technologies Inc. (NASDAQ:GTAT) that it wants to be sealed during the re-organization process.<\/p>\n<p style=\"text-align: justify;\"><strong>GTAT \u2013Apple Agreement<\/strong><\/p>\n<p style=\"text-align: justify;\">GTAT Advanced was forced to file for bankruptcy last week without providing reasons behind the move as many analysts continue to speculate it could have been caused by a Saphire agreement it made with Apple last year. GT Advanced Technologies Inc. (NASDAQ:GTAT) looks to have been thrown into disarray after Apple failed to live to its expectation in choosing it for the Saphire glass material that was later used on iPhone 6.<\/p>\n<p style=\"text-align: justify;\">Filing for bankruptcy comes a year after GTAT Advanced entered into an agreement with Apple Inc. (NASDAQ:AAPL) where it was given financing to construct a Saphire glass plant that it hoped would give it a lifeline in the market. Should GT Advanced Technologies Inc. (NASDAQ:GTAT) go down hundreds of employees are set to lose their jobs at the newly built Saphire plant.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 10\/16\/2014 (wallstreetpr) \u2013 GT Advanced Technologies Inc. (NASDAQ:GTAT) push to close down business after filing for bankruptcy is set to take longer than [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":16537,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236,1],"tags":[1612,4573,1002,4574],"stock_ticker":[],"class_list":["post-34196","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-featured","tag-apple-inc-nasdaqaapl","tag-gt-advanced-technologies-inc-nasdaqgtat","tag-nasdaqaapl","tag-nasdaqgtat","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GT Advanced Technologies Inc. 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