Bankruptcy Trustee Opposes GT Advanced Technologies Inc Exec Bonus Bid

0
Bankruptcy Trustee Opposes GT Advanced Technologies Inc Exec Bonus Bid

GTAT’s request came at a time when hundreds of its employees have lost their jobs

The U.S. bankruptcy trustee has opposed GT Advanced Technologies Inc (OTCMKTS:GTATQ)’s proposal to pay its top executives millions of dollars in bonuses. Last month, the Merrimack-based company had sought court approval for executive bonuses, saying that it needed to retain senior executives during the crucial restructuring phase. GT Advanced’s Mesa, Arizona plant was shut down after the company failed to provide high-quality sapphire glass to Apple.

Why pay bonuses to those who led you to bankruptcy?

The U.S. trustee argued that t