As GT Advanced Technologies navigates through the Chapter 11 bankruptcy process, it is hoping to keep the whole process as private as possible, asking the court to give it a private hearing, along with keeping confidential documents sealed.
The requests made by GT Advanced Technologies to a New Hampshire bankruptcy court were revealed on Thursday by Reuters. Specifically, the company requested that key documents related to an unnamed third-party be kept secret.
While it’s reasonable to assume that third-party is Apple, GT Advanced said if the documents were to be made public, it may be liable for damages due to existing confidentiality agreements.
GT Advanced also made a request that the hearing be “in camera,” meaning the hearing would not be open to the public.
At this point in time, little is known for the reasons behind GT’s Chapter 11 bankruptcy filing, as even manufacturing partner Apple issued a public statement this week to say GT’s filing was “surprising.”
Apple partnered with GT Advanced Technologies a year ago, announcing a $578 million prepayment to GT for a supply of sapphire glass material. Apple currently uses the über-hard material to protect the camera lens and Touch ID sensor on it’s iPhone 5s/6/6 Plus handsets. Apple will also soon use the material to protect the screens of many models of its upcoming Apple Watch.
Following GT’s bankruptcy filing, reports have indicated Apple had withheld a final $139 million payment due to GT Advanced, perhaps because the company was unable to supply sufficient amounts of quality sapphire glass. It has also been reported that Apple had attempted to help GT Advanced to qualify for the final payment, but despite the Cupertino firm’s efforts, GT failed to meet the goals stipulated in the loan agreement.
The first hearing of GT Advanced’s Chapter 11 bankruptcy was scheduled for Thursday at 10AM Eastern time.
