GTAT Stock Updates 10/15/2014 17:21:30 $GTAT
Judge in Apple supplier's bankruptcy questions need for secrecy
By Nick Brown and Noel Randewich
Oct 15 (Reuters) - The judge overseeing the mysterious bankruptcy of an Apple Inc sapphire supplier on Wednesday voiced skepticism over requests for secrecy and compared the iPhone maker to a demanding homeowner unhappy with how a construction project turned out.
Scant information has emerged since GT Advanced Technologies Inc filed for bankruptcy last week, wiping out most of its market value and triggering speculation about what may have soured its Apple relationship and torpedoed its prospects.
Key court filings revealing the reasons for the bankruptcy, which are routine in most Chapter 11 cases, have been filed with the court in secret. GT Advanced cited strict confidentiality requirements in its Apple contracts which, if violated, carry fines of $50 million.
At a hearing in U.S. Bankruptcy Court in Springfield, Massachusetts, Judge Henry Boroff told a lawyer for Apple that the documents do not seem to contain much proprietary information. Boroff instructed Apple to provide him a list by Monday of exactly which elements of the filings are sensitive.
"I've got a foot-high stack of documents, and it can't be that it all must be sealed," Boroff said.
Boroff said Apple and GT Advanced appeared to have made a complex series of agreements. The two made a deal in November for GT to set up a factory in Mesa, Arizona, to make scratch-resistant sapphire glass exclusively for Apple.
"I'm seeing what looks incredibly like a construction suit, where a homeowner says to the contractor, 'It didn't come out the way I wanted to,' and the contractor says, 'Well, it would have come out that way if you didn't continue to change the specifications.'"
Apple is widely seen as running one of the most efficient supply chains in the world but the Cupertino, California, company is also known for exacting standards and pricing that often leave its suppliers little room for profitability.
Boroff's comments came during a hearing that was meant to consider a motion by GT Advanced to keep certain documents sealed and begin the process of winding down its operations. But those issues were postponed until next Tuesday, in light of the recent appointment of GT Advanced's official creditors' committee.
The committee, tasked with representing the interests of all of the company's unsecured creditors, needs more time to get up to speed, Luc Despins, a lawyer for GT Advanced, told the court.
Despins added that the company will cease new production of sapphire and will begin sending notices to employees under the Worker Adjustment and Retraining Notification, or WARN, Act, which requires employers to warn workers of impending mass layoffs.
With the exception of Apple, parties in the case, including regulators and creditors, are pushing for more transparency. Earlier this week, the U.S. Department of Justice's bankruptcy watchdog in court papers said sealing information about GT Advanced's downfall would "thwart" the objectives of bankruptcy laws and "unjustifiably undermine" the system's fairness.
(Reporting by Nick Brown in New York and Noel Randewich in San Francisco; Editing by Lisa Shumaker)
What does the bk hearing have anything to do with NASDAQ listing requirements? The Q is added 9 days after the filing unless appealed to the NASD.
GTAT Stock Message Board http://investorshangout.com/GT-Advanced-Techn...TAT-54287/
monster run coming $$$$'s
GTAT .489 AH Lookin' pretty good!
My thoughts on tomorrow pps. re-coupe all your losses if you can while pps is in an up and down mode, until GTAT and Apple workout some sort of a deal. IMO, I beleive this is in progress between both companies. If you're a flipper (trader) of GTAT. Then by all means make as much money as you can, but please don't drive the price down while trading GTAT. I trade on the "ASK" with a small resistance block in order not to drive down the price. I never trade with a large block. I'am not a professional stock advisor, so don't listening to me.
My Thoughts on the pps, it will continuing going up and down between a 15 to 29 per cent move until both parties reach an agreement. All in my own opinion of course.
Judge may demand full disclosure JUST OUT
Judge in Apple supplier's bankruptcy questions need for secrecy
Reuters
4 minutes ago
?
?
?
?
(Adds comment from judge, background on Apple)
Related Stories
Apple supplier GT to drop sapphire ops, asks bankruptcy plan remain secret Reuters
GT says confidentiality pact rules out bankruptcy explanation Reuters
[$$] GT Advanced Confidentiality Hearing With Apple Delayed The Wall Street Journal
GT Advanced Delays Hearing on Sealed Documents, Wind-Down Bloomberg
[$$] Apple Partner Wants to Wind Down Sapphire Production The Wall Street Journal
By Nick Brown and Noel Randewich
Oct 15 (Reuters) - The judge overseeing the mysterious bankruptcy of an Apple Inc sapphire supplier on Wednesday voiced skepticism over requests for secrecy and compared the iPhone maker to a demanding homeowner unhappy with how a construction project turned out.
Scant information has emerged since GT Advanced Technologies Inc filed for bankruptcy last week, wiping out most of its market value and triggering speculation about what may have soured its Apple relationship and torpedoed its prospects.
Key court filings revealing the reasons for the bankruptcy, which are routine in most Chapter 11 cases, have been filed with the court in secret. GT Advanced cited strict confidentiality requirements in its Apple contracts which, if violated, carry fines of $50 million.
At a hearing in U.S. Bankruptcy Court in Springfield, Massachusetts, Judge Henry Boroff told a lawyer for Apple that the documents do not seem to contain much proprietary information. Boroff instructed Apple to provide him a list by Monday of exactly which elements of the filings are sensitive.
"I've got a foot-high stack of documents, and it can't be that it all must be sealed," Boroff said.
Boroff said Apple and GT Advanced appeared to have made a complex series of agreements. The two made a deal in November for GT to set up a factory in Mesa, Arizona, to make scratch-resistant sapphire glass exclusively for Apple.
"I'm seeing what looks incredibly like a construction suit, where a homeowner says to the contractor, 'It didn't come out the way I wanted to,' and the contractor says, 'Well, it would have come out that way if you didn't continue to change the specifications.'"
Apple is widely seen as running one of the most efficient supply chains in the world but the Cupertino, California, company is also known for exacting standards and pricing that often leave its suppliers little room for profitability.
Boroff's comments came during a hearing that was meant to consider a motion by GT Advanced to keep certain documents sealed and begin the process of winding down its operations. But those issues were postponed until next Tuesday, in light of the recent appointment of GT Advanced's official creditors' committee.
The committee, tasked with representing the interests of all of the company's unsecured creditors, needs more time to get up to speed, Luc Despins, a lawyer for GT Advanced, told the court.
Despins added that the company will cease new production of sapphire and will begin sending notices to employees under the Worker Adjustment and Retraining Notification, or WARN, Act, which requires employers to warn workers of impending mass layoffs.
With the exception of Apple, parties in the case, including regulators and creditors, are pushing for more transparency. Earlier this week, the U.S. Department of Justice's bankruptcy watchdog in court papers said sealing information about GT Advanced's downfall would "thwart" the objectives of bankruptcy laws and "unjustifiably undermine" the system's fairness.
The Q had to be today, seven days after the filing. Because today was the decision of the judge. As the judge postponed the meeting for 21, no Q.
The key is the 21, all depends on the judge. I still think they are cooking something.
There is always one that is bad and the other good thing about the film:
"Gtat will be over $1 tomorrow ! Thoughts?"
Yes, WHY?
Bingo, traders were shook pretty hard there today, some freaked and dumped.....
People know about the delist. Therefore, it is already factored into the chart.
This will open over $1
Thoughts?
I'm bored. Come on somebody !
Gtat will be over $1 tomorrow !
Thoughts?
I disagree - all the >100,000 were at higher levels today. The boys with the algos took it down end of day to take out the day traders and weak hands because they had buyers.
That's how the game is played - AI computers vs retail.
Pur pur pur
I like Q's also, little kitty. especially in Quaker Grits, but not oatmeal. I hate oatmeal as much as I hate GTAT filing for a bk and Apple from trying to grow a rotten brain on it's suppliers. See I'am from down South, and down South we don't like rotten Apples.
Even with a q added how long and will it keep trading on the nsdq.
have u factored in the delist in the AM clay?
Where range does this trade tomorrow ?
Give me your range!
.45-75 my guess.
big blocks were green on L2, either way someone got them.....
Judge in Apple supplier's bankruptcy questions need for secrecy
By Nick Brown and Noel Randewich
Oct 15 (Reuters) - The judge overseeing the mysterious bankruptcy of an Apple Inc sapphire supplier on Wednesday voiced skepticism over requests for secrecy and compared the iPhone maker to a demanding homeowner unhappy with how a construction project turned out.
Scant information has emerged since GT Advanced Technologies Inc filed for bankruptcy last week, wiping out most of its market value and triggering speculation about what may have soured its Apple relationship and torpedoed its prospects.
Key court filings revealing the reasons for the bankruptcy, which are routine in most Chapter 11 cases, have been filed with the court in secret. GT Advanced cited strict confidentiality requirements in its Apple contracts which, if violated, carry fines of $50 million.
At a hearing in U.S. Bankruptcy Court in Springfield, Massachusetts, Judge Henry Boroff told a lawyer for Apple that the documents do not seem to contain much proprietary information. Boroff instructed Apple to provide him a list by Monday of exactly which elements of the filings are sensitive.
"I've got a foot-high stack of documents, and it can't be that it all must be sealed," Boroff said.
Boroff said Apple and GT Advanced appeared to have made a complex series of agreements. The two made a deal in November for GT to set up a factory in Mesa, Arizona, to make scratch-resistant sapphire glass exclusively for Apple.
"I'm seeing what looks incredibly like a construction suit, where a homeowner says to the contractor, 'It didn't come out the way I wanted to,' and the contractor says, 'Well, it would have come out that way if you didn't continue to change the specifications.'"
Apple is widely seen as running one of the most efficient supply chains in the world but the Cupertino, California, company is also known for exacting standards and pricing that often leave its suppliers little room for profitability.
Boroff's comments came during a hearing that was meant to consider a motion by GT Advanced to keep certain documents sealed and begin the process of winding down its operations. But those issues were postponed until next Tuesday, in light of the recent appointment of GT Advanced's official creditors' committee.
The committee, tasked with representing the interests of all of the company's unsecured creditors, needs more time to get up to speed, Luc Despins, a lawyer for GT Advanced, told the court.
Despins added that the company will cease new production of sapphire and will begin sending notices to employees under the Worker Adjustment and Retraining Notification, or WARN, Act, which requires employers to warn workers of impending mass layoffs.
With the exception of Apple, parties in the case, including regulators and creditors, are pushing for more transparency. Earlier this week, the U.S. Department of Justice's bankruptcy watchdog in court papers said sealing information about GT Advanced's downfall would "thwart" the objectives of bankruptcy laws and "unjustifiably undermine" the system's fairness.
(Reporting by Nick Brown in New York and Noel Randewich in San Francisco; Editing by Lisa Shumaker)
What does the bk hearing have anything to do with NASDAQ listing requirements? The Q is added 9 days after the filing unless appealed to the NASD.
GTAT Stock Message Board http://investorshangout.com/GT-Advanced-Techn...TAT-54287/
monster run coming $$$$'s
GTAT .489 AH Lookin' pretty good!
My thoughts on tomorrow pps. re-coupe all your losses if you can while pps is in an up and down mode, until GTAT and Apple workout some sort of a deal. IMO, I beleive this is in progress between both companies. If you're a flipper (trader) of GTAT. Then by all means make as much money as you can, but please don't drive the price down while trading GTAT. I trade on the "ASK" with a small resistance block in order not to drive down the price. I never trade with a large block. I'am not a professional stock advisor, so don't listening to me.
My Thoughts on the pps, it will continuing going up and down between a 15 to 29 per cent move until both parties reach an agreement. All in my own opinion of course.
Judge may demand full disclosure JUST OUT
Judge in Apple supplier's bankruptcy questions need for secrecy
Reuters
4 minutes ago
?
?
?
?
(Adds comment from judge, background on Apple)
Related Stories
Apple supplier GT to drop sapphire ops, asks bankruptcy plan remain secret Reuters
GT says confidentiality pact rules out bankruptcy explanation Reuters
[$$] GT Advanced Confidentiality Hearing With Apple Delayed The Wall Street Journal
GT Advanced Delays Hearing on Sealed Documents, Wind-Down Bloomberg
[$$] Apple Partner Wants to Wind Down Sapphire Production The Wall Street Journal
By Nick Brown and Noel Randewich
Oct 15 (Reuters) - The judge overseeing the mysterious bankruptcy of an Apple Inc sapphire supplier on Wednesday voiced skepticism over requests for secrecy and compared the iPhone maker to a demanding homeowner unhappy with how a construction project turned out.
Scant information has emerged since GT Advanced Technologies Inc filed for bankruptcy last week, wiping out most of its market value and triggering speculation about what may have soured its Apple relationship and torpedoed its prospects.
Key court filings revealing the reasons for the bankruptcy, which are routine in most Chapter 11 cases, have been filed with the court in secret. GT Advanced cited strict confidentiality requirements in its Apple contracts which, if violated, carry fines of $50 million.
At a hearing in U.S. Bankruptcy Court in Springfield, Massachusetts, Judge Henry Boroff told a lawyer for Apple that the documents do not seem to contain much proprietary information. Boroff instructed Apple to provide him a list by Monday of exactly which elements of the filings are sensitive.
"I've got a foot-high stack of documents, and it can't be that it all must be sealed," Boroff said.
Boroff said Apple and GT Advanced appeared to have made a complex series of agreements. The two made a deal in November for GT to set up a factory in Mesa, Arizona, to make scratch-resistant sapphire glass exclusively for Apple.
"I'm seeing what looks incredibly like a construction suit, where a homeowner says to the contractor, 'It didn't come out the way I wanted to,' and the contractor says, 'Well, it would have come out that way if you didn't continue to change the specifications.'"
Apple is widely seen as running one of the most efficient supply chains in the world but the Cupertino, California, company is also known for exacting standards and pricing that often leave its suppliers little room for profitability.
Boroff's comments came during a hearing that was meant to consider a motion by GT Advanced to keep certain documents sealed and begin the process of winding down its operations. But those issues were postponed until next Tuesday, in light of the recent appointment of GT Advanced's official creditors' committee.
The committee, tasked with representing the interests of all of the company's unsecured creditors, needs more time to get up to speed, Luc Despins, a lawyer for GT Advanced, told the court.
Despins added that the company will cease new production of sapphire and will begin sending notices to employees under the Worker Adjustment and Retraining Notification, or WARN, Act, which requires employers to warn workers of impending mass layoffs.
With the exception of Apple, parties in the case, including regulators and creditors, are pushing for more transparency. Earlier this week, the U.S. Department of Justice's bankruptcy watchdog in court papers said sealing information about GT Advanced's downfall would "thwart" the objectives of bankruptcy laws and "unjustifiably undermine" the system's fairness.
The Q had to be today, seven days after the filing. Because today was the decision of the judge. As the judge postponed the meeting for 21, no Q.
The key is the 21, all depends on the judge. I still think they are cooking something.
There is always one that is bad and the other good thing about the film:
"Gtat will be over $1 tomorrow ! Thoughts?"
Yes, WHY?
Bingo, traders were shook pretty hard there today, some freaked and dumped.....
People know about the delist. Therefore, it is already factored into the chart.
This will open over $1
Thoughts?
I'm bored. Come on somebody !
Gtat will be over $1 tomorrow !
Thoughts?
I disagree - all the >100,000 were at higher levels today. The boys with the algos took it down end of day to take out the day traders and weak hands because they had buyers.
That's how the game is played - AI computers vs retail.
Pur pur pur
I like Q's also, little kitty. especially in Quaker Grits, but not oatmeal. I hate oatmeal as much as I hate GTAT filing for a bk and Apple from trying to grow a rotten brain on it's suppliers. See I'am from down South, and down South we don't like rotten Apples.
Even with a q added how long and will it keep trading on the nsdq.
have u factored in the delist in the AM clay?
Where range does this trade tomorrow ?
Give me your range!
.45-75 my guess.
big blocks were green on L2, either way someone got them.....
