Federal bankruptcy watchdogs have asked that an independent examiner be appointed to oversee spending in the bankruptcy of GT Advanced Technologies Inc., the Wall Street Journal reported today. U.S. Trustee William Harrington this week asked Bankruptcy Judge Henry Boroff to appoint a third party to sort through the bills — from law firms and other advisers — that are expected to arrive as part of GT Advanced’s case. The company’s lead bankruptcy lawyer, Luc Despins, said the firm won't oppose the motion. GT Advanced filed for chapter 11 protection in October 2014 after plunging into debt in an unsuccessful bid to produce smartphone-screen material for Apple Inc. The company decoupled from Apple by way of a settlement approved by the court in December 2014 and attempted a recovery as a manufacturer of furnaces and other industrial equipment.
