It appears that GT Advanced Technologies’ creditors will be getting a peek behind the curtain at Apple’s secretive business goings-on. This, as Apple and GT work toward finalizing their settlement spurred by GTs bankruptcy filing.
As noted earlier today by the Wall Street Journal, Apple will provide GT’s creditors with documents regarding the companies’ arrangement in response to inquiries attempting to determine whether the proposed settlement is fair, or whether Apple is trying to take advantage of the situation.
Details continue to surface about the relationship between the two companies, as GT blames Apple for the issues that lead to its bankruptcy, and Apple points in GT’s direction as the party at fault. While many issues led to the bankruptcy, it appears that there were serious mismanagement issues, and fiscal irresponsibility at GT, along with a real lack of ability and experience in sapphire glass making.
While Apple has said that it plans to keep close watch on which documents GT’s other creditors ask for, and they will attempt to prevent them from accessing some information, Judge Henry Boroff has told the Cupertino firm any documents they wish to keep sealed will need to meet a very specific set of standards.
