A bankruptcy judge approved GT Advanced Technologies Inc.'s outline of its plan to exit bankruptcy protection putting the equipment manufacturer on course for a relatively smooth end to a chapter 11 reorganization triggered by the collapse of a supply deal with Apple Inc., Dow Jones Daily Bankruptcy Review reported today. Bankruptcy Judge Henry J. Boroff on Tuesday set a March 3 date for a confirmation hearing on the company's plan after approving a plan-disclosure document. Tapped as a supplier of scratch- and shatter-resistant sapphire screen material for Apple's smartphones, GT piled on debt and transformed its business operation. Apple rejected the material GT produced, for reasons that were disputed. GT resorted to bankruptcy in October 2014 to repair its tattered finances.
