The surprising bankruptcy filing of GT Advanced has become the most publicized and dissected bankruptcy in some time. Imagine what the press would have been like had New York City gone bankrupt after President Ford told the Big Apple to "Drop Dead". So why did GT Advanced go bankrupt? Some blame the $139 million payment that Apple held back because GT failed to hit a specific milestone. The failure of Apple to make that payment led GT Advanced's cash position to fall under a certain level. Apple could then have demanded the repayment of the previous $440 million it lent to GT Advanced. The only ...from PhoneArena http://ift.tt/1toMDZR
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