Subscribe / Unsubscribe Enewsletters | Login | Register

Pencil Banner

Sapphire supplier's creditors want Apple exec to spill secrets

Gregg Keizer | Dec. 3, 2014
GT Advanced Technologies' creditors and bondholders want to depose Apple COO, but Cupertino won't produce him, allege attorneys

In other court documents, GT accused Apple of "bait-and-switch" tactics during the 2013 contract negotiations and claimed it was nothing more than a "captive supplier" under the agreement. When GT balked at an entirely different deal Apple pitched -- where it would loan GT $578 million to buy parts for sapphire furnaces, assemble those furnaces, then run them in an Apple-owned factory in Mesa, Ariz. -- Apple told GT to, "Put on your big boy pants and accept the agreement."

Meanwhile, Apple has said it "bent over backward" to collaborate with its new partner on the innovative but ultimately futile sapphire production scheme, and that it, too, was harmed. "Apple spent a significant amount to build the factory and does not have the sapphire for use in its products," Apple's lawyers have said.

"The matters at issue in the settlement agreement touch on nearly every aspect of the debtors' operations and are critical to the debtors' restructuring and ongoing operations. The debtors' key creditor stakeholders are entitled to test the sufficiency of this settlement through a brief deposition of Williams," Monday's motion concluded.

 

Previous Page  1  2 

Sign up for CIO Asia eNewsletters.