GT Advanced Technologies revised its bankruptcy settlement with its former partner Apple, to the tune of $50 million so it could have more cash to speed along its bankruptcy proceedings, according to reports.
A lawyer for GT Advanced informed the court of the new settlement earlier this week, and the $50 million will likely be approved by a bankruptcy judge, according to Reuters. GT said that it left the furnace business in 2013 to create "scratch resistant sapphire" for iPhone screens, but then Apple decided on a different kind of screen for the iPhone 6. The company blamed Apple for increasing its production and "heavy" investment which spurred its bankruptcy in October.
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