Apple sapphire supplier GT Advanced Technologies’ distress continue today with the announcement that it will certainly not appeal the suspension of its stock on the NASDAQ stock market. As part of this choice, the firm’s stock is no more being traded on the NASDAQ securities market efficient today, October 16. This extraction was expected as well as is the outcome of the company’s current Chapter 11 bankruptcy.GT Advanced Technologies Inc. today announced that it will not go after an allure of the determination by The NASDAQ Stock Market LLC(“NASDAQ”) to suspend trading in the Business’s ordinary shares based upon the Firm’s volunteer petition for reorganization comfort under Chapter 11 of the United States Personal bankruptcy Code. The Firm has been educated that NASDAQ will certainly put on hold trading in the Firm’s ordinary shares efficient at the opening of the marketplace on October 16, 2014. GT’s stock plunged 90 percent following its bankruptcy announcement previously this month, and has proceeded to fall given that then, shutting at merely 44 cents per share yesterday. The stock will certainly remain to trade under the sign GTATQ on the OTC Pink marketplace. As component of the original deal, Apple made three loan settlements to GT totaling $ 440 million and claimed it was
functioning with GT to assist overcome technical challenges to qualify for the 4th and also final early repayment loan of $ 139 million. Apple additionally appeared readied to delay planned repayments on the financial obligation. However under the weight of troubles that started at the very least as early as February, GT discovered itself unable to continue its business operations as well as filed for bankruptcy with plans to shut down its sapphire manufacturing centers. [source]

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