Apple (AAPL) Opposes GT Advanced Technologies' (GTATQ) New Funding Round; May Impact Settlement

Apple (Nasdaq: AAPL) may cancel its settlement with defunct sapphire panel maker GT Advanced Technologies (OTC: GTATQ) pending a new funding agreement.

The WSJ said Friday that GT's move to borrow $95 million from bondholders is adverse to Apple.

Terms of GT's debtor-in-possession loan make it tougher to repair the Mesa, Arizona, facility that caught fire earlier this year.

In a court filing made Thursday, Apple said, The debtors cannot perform under the proposed DIP facility without violating the Apple settlement agreement, and thus, will be forced to choose between defaulting on the proposed DIP facility or the Apple settlement agreement.

Shareholders have also questioned GT's need for financing so soon into bankruptcy.

Shares of Apple are trading positive Friday.

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