The Deal quotes John Loughnane in “Apple supplier GT Advanced set for key hearing”Print PDF
John G. Loughnane, a partner in the firm’s Business Department, was quoted by The Deal in “Apple supplier GT Advanced set for key hearing” on October 20. The article discusses the GT Advanced Technologies Inc. (GTAT) Chapter 11 bankruptcy case and its upcoming October 21 hearing. Judge Henry J. Boroff of the U.S. Bankruptcy Court for the District of Massachusetts is set to rule Tuesday on whether key documents outlining the company’s reasons for filing can be released to the public, which Apple strongly objects to. Apple has sought to file under seal an objection to GT’s request to shut down two facilities it had planned to use to make sapphire that Apple had once intended to use in iPhones. According to Apple, its basis for objection involves “confidential research, development or commercial information regarding Apple’s business processes.”
Although the case has raised attention for the amount of secrecy in a typically transparent process, confidential treatment of certain issues in bankruptcy cases is not unusual. John said "this case has obviously attracted a lot of publicity, given the parties involved and the numbers involved," referring to the size of the debtor's assets and liabilities — more than $1 billion each. John noted, however, that, "It is not unusual to see issues come up in a bankruptcy case that require confidential treatment."
He goes on to point out that these can range from the actual compensation a key employee will receive under a bonus plan to other matters that could violate privacy of patients in a healthcare bankruptcy. He added, "The debtor acted conservatively to ensure that it wasn't violating any obligation."
To view the article, click here.