HACKINTOSH.ORG | Macintosh discussion forums

Apple raises objections to potential GT Advanced financing plan

<div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><p><a href='http://www.imore.com/apple-raises-objections-potential-gt-advanced-financing-plan' title="Apple raises objections to potential GT Advanced financing plan"><img src='http://www.imore.com/sites/imore.com/files/styles/large_wm_blw/public/field/image/2014/10/iphone_6_camera_close.jpg?itok=ZW1UqDe4' />[/url]</p> <p>Apple has objected to a recent financing proposal by one-time partner GT Advanced Technologies (http://www.imore.com/tag/gt-advanced). Though Apple supports a financing plan for GT, it feels that some provisions in the current plan, related to the fire at GT's Arizona facility (http://www.imore.com/fire-reported-roof-apple-facility-mesa-arizona) in May, may leave GT Advanced stuck in a position where it could default on its settlement with Apple.<!--break--></p> <p>From Re/code (http://recode.net/2015/07/17/apple-objects-to-bankrupt-sapphire-suppliers-financing-plan/):</p>

<p>Under these loan terms, Apple asserts its former supplier will be placed in the difficult position of choosing "between defaulting on the [

loan agreement] or the Apple Settlement Agreement." That settlement dealt with the companies' differences over a failed effort to durable, scratch-resistant smartphone screen material.</p> <p>GT Advanced is seeking to collect money from their insurance company to repair any damage to their sapphire furnaces, which it has been hoping to sell (http://www.imore.com/gt-advanced-pursuing-sale-sapphire-furnaces-pay-apple) in order to pay off their debt to Apple. The two companies reached a settlement (http://www.imore.com/gt-advanced-settlement-apple-gains-court-approval) late last year after Apple broke off an agreement with GT Advanced for sapphire crystal, following the latter company's inability to produce sapphire in the quantities that Apple required.</p> <p>Source: Re/code (http://recode.net/2015/07/17/apple-objects-to-bankrupt-sapphire-suppliers-financing-plan/)</p> </div></div></div><br clear='all'/>

<a href="http://rc.feedsportal.com/r/234565674064/u/49/f/616881/c/33998/s/4837977c/sc/28/rc/1/rc.htm" rel="nofollow"><img src="http://rc.feedsportal.com/r/234565674064/u/49/f/616881/c/33998/s/4837977c/sc/28/rc/1/rc.img" border="0"/>[/url]

<a href="http://rc.feedsportal.com/r/234565674064/u/49/f/616881/c/33998/s/4837977c/sc/28/rc/2/rc.htm" rel="nofollow"><img src="http://rc.feedsportal.com/r/234565674064/u/49/f/616881/c/33998/s/4837977c/sc/28/rc/2/rc.img" border="0"/>[/url]

<a href="http://rc.feedsportal.com/r/234565674064/u/49/f/616881/c/33998/s/4837977c/sc/28/rc/3/rc.htm" rel="nofollow"><img src="http://rc.feedsportal.com/r/234565674064/u/49/f/616881/c/33998/s/4837977c/sc/28/rc/3/rc.img" border="0"/>[/url]

<img src="http://da.feedsportal.com/r/234565674064/u/49/f/616881/c/33998/s/4837977c/sc/28/a2.img" border="0"/> (http://da.feedsportal.com/r/234565674064/u/49/f/616881/c/33998/s/4837977c/sc/28/a2.htm)<img width="1" height="1" src="http://pi.feedsportal.com/r/234565674064/u/49/f/616881/c/33998/s/4837977c/sc/28/a2t.img" border="0"/><img width='1' height='1' src='(http://tipb.com.feedsportal.com/c/33998/f/616881/s/4837977c/sc/28/mf.gif)' border='0'/><img src="http://feeds.feedburner.com/~r/TheIphoneBlog/~4/luJIHoqdMUM" height="1" width="1" alt=""/>

Source: Apple raises objections to potential GT Advanced financing plan (http://feedproxy.google.com/~r/TheIphoneBlog/~3/luJIHoqdMUM/story01.htm)