Apple Protects Info In GT Advanced Creditor Probe

Posted: Nov 26 2014, 2:32am CST | by , in News | Apple


Apple protects Info in GT Advanced Creditor Probe
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Apple has decided to protect info in GT Advanced creditor probe.

The failure scheme titled GT Advanced Technologies will be allowed a glimpse of Apple’s covert activities under the jurisdiction of the law. Apple is settling matters with GT. The rapprochement will ensure that Apple is no longer blameworthy for the bankruptcy of GT.

The proceedings are underway and anything that may get used against Apple will be pounced upon by GT. The judge made it clear that he did not want to get involved in the sealed information deal. Apple and GT’s bond which was supposed to revolutionize the very face of the industry turned sour a long time ago.

The sapphire crystals that were manufactured by GT would have been used by Apple in its scratchproof and unbreakable iPhone glass. The judge said that the sealed documents belonging to Apple would have to be unsealed and shown to GT. Seeing things as they appear beneath the wraps is a whole different scenario. Apple will be providing documents pertaining to the deal between the two companies. 

This arrangement will allow Apple to show GT Technologies what it has in the way of proof of its sincerity. GT meanwhile still points an accusing finger at Apple for its troubles including its bankruptcy. Apple, according to the execs at GT, took illegal advantage of the situation at hand.

Often it happens that one giant tech company comes into clash with another one over matters having to do with policies and the bonds that exist between them. The case of Apple and GT has a similar ring to it. They started out by cooperating with each other.

In fact in the beginning both conglomerates sent out feelers towards each other. It was discovered that they had something in common and that they could benefit each other. This of course led from one thing to another and soon GT was manufacturing sapphire crystals for Apple’s products.

However, somewhere along the line the process went awry as GT was left high and dry. The game plan went in Apple’s favor much to the chagrin of GT which ended up going in a loss and never regained its balance.

The end result was the insolvency of GT Technologies which it even now blames entirely upon Apple’s mismanagement and wrongheaded policies. It is yet to be seen what the final outcome is in court for the two parties. 

Source: WSJ

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<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
Sumayah Aamir (Google+) has deep experience in analyzing the latest trends.




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