Apple’s role in the GTAT bankruptcy situation looks like it’s done and over with. In October, GT Advanced Technologies agreed to repay Apple $439 million in loans and rent. Other GTAT investors questioned that settlement, and on Monday GTAT issued a revised settlement with Apple that saves the bankrupted company $50 million compared to the earlier settlement. The new settlement offer caused GTAT’s creditors to back off. The judge in the matter will likely agree to the final settlement sometime in early 2015. Under the agreement, GTAT will sell off approximately 2,000 sapphire furnaces and Apple will get a large chunk of the proceeds from them. GTAT will also get a number of months rent-free at the Apple-owned facility in Mesa, Arizona. This isn’t GTAT’s only involvement with the courts: the SEC is looking into the company over suspicious trades by GTAT executives. As far as Apple is concerned, however, its involvement is done.
