Apple Inc. supplier GT Advanced Technologies Inc. asked a U.S. bankruptcy court to keep under seal some key documents relating to a third-party, saying this would allow it to avoid paying damages under confidentiality agreements, Reuters reported yesterday. GT Advanced did not disclose the identity of the third-party or the nature of the potential contract violations. In a filing today with the U.S. bankruptcy court in New Hampshire, the company also requested a private hearing to deal with its request. The first hearing of GT Advanced's chapter 11 bankruptcy is scheduled for today at 10 a.m. ET.
http://www.reuters.com/article/2014/10/09/gt-advanced-bankruptcy-hearin…
In related news, Apple Inc. said yesterday that it was surprised by supplier GT Advanced Technologies Inc.’s bankruptcy filing this week, and is now considering its next steps, Reuters reported yesterday. GT Advanced, slated to supply scratch-resistant sapphire displays from a new Arizona factory Apple is helping bankroll, filed for bankruptcy on Monday but has offered little explanation as to why.
http://www.reuters.com/article/2014/10/08/apple-gt-advanced-tech-idUSL2…