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Judge orders secrets revealed in Apple's sapphire supplier bankruptcy

Gregg Keizer | Nov. 6, 2014
Documents Apple wanted kept under wraps to be filed in the public record on Friday.

Tuesday, Judge Boroff filed his order to unseal the documents, citing "presumption of public access" to justify the disclosure of what Apple wanted kept quiet. He made some exceptions, saying that a Master Development and Supply Agreement between Apple and GT would remain sealed.

Everything else must be made public on Nov. 7.

"Often in large bankruptcy cases of technology companies, there are confidentiality issues," said Irena Goldstein, a partner with the law firm Proskauer Rose LLP, in an earlier interview about the GT bankruptcy. Goldstein has considerable experience in handling Chapter 11 cases. "What was unique here is that Apple was clearly central to the bankruptcy."

Goldstein and a Proskauer colleague, Tim Karcher, said that they could not recall a case where the debtors -- in this instance, GT -- were prevented from telling creditors the cause of a sudden liquidity crisis.

Although Goldstein declined to speculate in detail, she made the same assumption that many other observers, including industry and financial analysts, had. "One of the things I assume may be in the sealed documents is [GT's] point of view as to its relationship with Apple," she said.

 

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