GO
Loading...

Bankruptcy

More

  • iPhone glass maker wants to shut down Mesa factory Friday, 10 Oct 2014 | 1:53 PM ET

    PHOENIX— A manufacturer of sapphire glass that Apple Inc. uses in iPhones told a bankruptcy court Friday that it wants to shut down a Mesa factory that was once touted as a big job creator for Arizona. In a bankruptcy court filing Friday, the company outlined its plans to wind down operations at the Mesa factory by the end of the year along with a second facility in...

  • MANCHESTER, N.H., Oct 9- GT Advanced Technologies Inc on Thursday revealed it intends to wind down sapphire production, cutting short its once-promising bid to supply the scratch-resistant material for Apple Inc's iPhones and other mobile devices. Scant information has emerged since GT Advanced filed unexpectedly for bankruptcy on Monday, wiping out most of...

  • MANCHESTER, New Hampshire, Oct 9- Apple Inc supplier GT Advanced Technologies Inc argued on Thursday it could not reveal why it filed for bankruptcy and asked a court to keep crucial documents sealed, a highly unusual move that may keep investors in the dark about its unexpected financial implosion. GT Advanced forged a deal last year with Apple that involved...

  • DETROIT, Oct 9- Mediation for the last, and potentially one of the biggest, settlements in Detroit's historic bankruptcy case has moved to New York City, a Detroit spokesman said on Thursday, amid a newspaper report that a potential deal with Financial Guaranty Insurance Co is still days away. Nearly a month ago, Detroit struck a deal with another bond insurer,...

  • Oct 9- Apple Inc supplier GT Advanced Technologies Inc argued on Thursday it could not reveal why it filed for bankruptcy and is asking the court to keep crucial documents sealed, a highly unusual situation that may keep investors in the dark as to the cause of its financial implosion. The company, which had been slated to provide Apple with scratch-resistant...

  • Oct 9- Apple Inc supplier GT Advanced Technologies Inc told a U.S. court it was barred from disclosing why it filed for bankruptcy, saying the company was "tied up in knots" by a confidentiality agreement. GT Advanced has a deal with Apple that involves outfitting an Arizona factory to make scratch-resistant sapphire glass exclusively for the iPhone maker.

  • Apple supplier GT asks for secrecy in bankruptcy Thursday, 9 Oct 2014 | 8:57 AM ET

    GT Advanced Technologies asked a court to keep documents sealed to avoid violating confidentiality agreements.

  • Oct 9- 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. GT Advanced did not disclose the identity of the third party or the nature of the potential contract violations.

  • Oct 9- 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. GT Advanced did not disclose the identity of the third-party or the nature of the potential contract violations.

  • GT Advanced bankruptcy: A warning to Apple suppliers Wednesday, 8 Oct 2014 | 1:59 PM ET
    A woman walks by a sign outside of Apple headquarters in Cupertino, Calif.

    Apple supplier GT Advanced Technologies's bankruptcy offers a dramatic illustration of how Apple can put the screws to suppliers.

  • Why medical debt is spiraling out of control Wednesday, 8 Oct 2014 | 10:21 AM ET

    Medical debt is the leading cause of bankruptcy—and it's only going to get worse, reports the Fiscal Times.

  • NEW YORK, Oct 6- Creditors of bankrupt wireless company LightSquared and the company's owner, Harbinger Capital Partners, will once again try to reach a mediated restructuring deal after a judge raised the prospect of converting the case to a Chapter 7 liquidation. With a deadline for confirming a plan just weeks away, Harbinger and two creditors, MAST Capital...

  • DETROIT, Oct 6- Detroit may take years before fully functioning as a city, its mayor said on Monday as he gave a tepid blessing to the plan for ending the city's historic bankruptcy. Mayor Mike Duggan was the last witness called by Detroit's attorneys, who then rested the city's case in a U.S. Bankruptcy Court hearing on the plan to adjust $18 billion of debt.

  • GT Advanced Technologies files Chapter 11     Monday, 6 Oct 2014 | 2:30 PM ET

    CNBC's Bob Pisani discusses how the surprise bankruptcy filing by GT Advanced Technologies is impacting today's trade.

  • Oct 6- GT Advanced Technologies Inc, Apple Inc's partner in a sapphire glass plant in Arizona, filed for bankruptcy on Monday in a stunning turn of events for a company whose fortunes looked bright only a few months ago. The stock fell more than 90 percent to 75 cents, wiping out nearly all of its $1.5 billion market worth. I don't think anyone expected this, "said Dennis...

  • A partner in Apple's sapphire glass manufacturing plant in Arizona, GT Advanced Technologies has filed for voluntary bankruptcy protection on Monday. Rosecliff Capital's Michael Murphy gives his take on the news.

  • Oct 6- GT Advanced Technologies Inc, a partner with Apple Inc in a sapphire glass plant in Arizona, said it had filed for voluntary bankruptcy protection. "It would appear that something very fundamentally broke down in the relationship between Apple and GT Advanced," Raymond James analyst Pavel Molchanov said in an email. Up to Friday's close, GT Advanced shares...

  • GT Advanced files for bankruptcy Monday, 6 Oct 2014 | 10:22 AM ET

    Oct 6- Solar and LED equipment maker GT Advanced Technologies Inc, a supplier of sapphire glass to Apple Inc, said it had filed for voluntary bankruptcy protection. The company, whose subsidiaries also filed for bankruptcy, said it had $85 million of cash as of Sept. 29. GT Advanced listed assets and liabilities in excess of $1 billion in its Chapter 11 petition.

  • Bingham is in talks to combine with Morgan, Lewis& Bockius of Philadelphia in a deal that could be approved as soon as this month, and Bingham could file for bankruptcy if the deal doesn't go through, management has told people at the firm. In a firm meeting last week, Bingham managing partner Steven Browne told partners that the firm was exploring other options...

  • Bankruptcy Judge Steven Rhodes asked pointed questions on Friday about how Detroit will fare after it exits its historic bankruptcy, expressing concerns about a commission intended to oversee city finances and a settlement with Syncora Guarantee Inc.. The judge also raised concerns over how the city would monitor deadlines and requirements in a complex...