Tuesday, October 14, 2014

In re: GT Advanced Technologies, Inc., et al.; RESPONSE OF DOW JONES & COMPANY, INC. TO RELIEF SOUGHT BY DEBTORS IN THEIR EMERGENCY MOTION FOR ENTRY OF ORDER, PURSUANT TO BANKRUPTCY CODE SECTION 107(B) AND BANKRUPTCY RULE 9018, AUTHORIZING FILING UNDER SEAL $GTAT

From the motion:

"Dow Jones & Company, Inc. (“Dow Jones”), publisher of The Wall Street Journal, Dow Jones Newswires, and a variety of other news and information publications, respectfully submits this response to the Debtors’ request (DN 92) to file an unredacted version of the Supplemental First Day Declaration of Daniel W. Squiller (the “Supplemental Declaration”) under seal, or in the alternative, to file the full document in the public docket. [...]

During an adjournment in the initial hearings on October 9, the courtroom was cleared to address this motion. Only the United States Trustee and counsel for Apple and the Debtors were permitted to participate. On information and belief, this closed hearing continued for at least twenty-five minutes. [...]

More than the Supplemental Declaration is at stake. Dow Jones is concerned that information submitted as the cases progress that touches in any way on Apple, or falls within the expansive terms of the confidentiality agreement (DN 92-3), will be subject to seal, redaction, or other restrictive terms. [...]"
Arguments:
  • The Supplemental Declaration Does not Qualify for the Limited Exceptions to the Right of Public Access Described in 11 U.S.C. §107(b).
  • Preventing Public Access to the Supplemental Declaration Would Also Run Afoul of Critical Constitutional Principles.
  • In the Alternative to Full Disclosure of the Supplemental Declaration, the “Least Restrictive” Means of Balancing the Public’s Right of Access with the Limitations Described in Section 107(b)(1) is to Closely Redact the Document – Not to Seal it Entirely.
  • The Court Should Also Release Any Transcripts and Recordings Made of the Closed Hearing Held on October 9, 2014.

3 comments:

Nathan said...

OT:

Gundlach: 2.20% should be the low on rates

Well, it didn't take long to invalidate that forecast :)

jHurt said...

Should be a really interesting process. Seems silly they can't openly discuss the broader points of the case for worry about the Apple NDA

Anonymous said...

$GTATQ equity just jumped 100% on news of a settlement with Apple. Unsecured bondholders are not expecting recovery (given that notes are trading in the low $30s after the PR). It is expensive to borrow shares now but I am considering adding more to short duration, long put positions.