GT Advanced Technologies Inc. has won approval for its bankruptcy settlement with Apple from Judge Henry Boroff. The settlement comes after a long saga since October when GT Advanced Technologies filed for Chapter 11 bankruptcy, with both Apple and GTAT pointing blame at each other in unsealed court documents.
According to a report on The Wall Street Journal:
As part of its agreement, Apple is surrendering most of its claims against GTAT. Under terms of the agreement, GTAT will have four years to sell its sapphire manufacturing furnaces to pay off its debt with Apple.
Source: Wall Street Journal
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Sorry but they STILL need to look into those stock trades.
Thats something that the FTC needs to do, not a judge that deals with bankruptcy thats finalizing debt settlement. My understanding is they are looking into it.
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