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GT Advanced did not disclose the identity of the
third party or the nature of the potential contract violations.
In a filing with a U.S. bankruptcy court in New Hampshire early
on Thursday, the company also asked that the hearing to deal
with this request be held "in camera," or closed to the public.
"GTAT recognizes the unusual (and perhaps unprecedented) nature
of the request made in this Motion," the company said in the
filing.
GT Advanced said it was compelled to make the request to avoid
the risk of paying damages of $50 million per violation.
The first hearing of GT Advanced's Chapter 11 bankruptcy is
scheduled for Thursday at 10 a.m. ET.
The company has offered little explanation for its surprise
bankruptcy filing, which led to its stock falling more than 90
percent on Monday, wiping out nearly all of its $1.5 billion
market worth.
GT Advanced has a deal with Apple that involves building an
Arizona factory to make scratch-resistant sapphire glass
exclusively for the iPhone and iPad maker.
Apple said on Wednesday that it was surprised with the
bankruptcy filing and that it was working with Arizona officials
on its next moves.
The case is In re: GT Advanced Technologies Inc, U.S. Bankruptcy
Court, District of New Hampshire, No: 14-11916.
(Reporting by Tanya Agrawal; Editing by Ted Kerr and Robin
Paxton)
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