It is starting to look like the fruity cargo cult, Apple did its level best to sink its partner GT Advanced, the maker of its Sapphire Glass.

GT Advanced relied on Apple and it appears that made it vulnerable. Apple had withheld the last $139 million payment to the company and no one is sure why. This meant that GT Advanced had spent $248 million in cash in one quarter and had no money coming in.

That may have led to the company's filing, since its cash, at $85 million, was below a $125 million trigger point that would allow Apple to demand repayment of about $440 million in loans it had advanced. Apple had agreed to lend GT a total of $578 million to help get a large sapphire factory in Arizona up and running. The tech giant reportedly withheld the last $139 million payment it was due to make.

While it might be normal in the cut and thrust business world, does look like Apple might turn out to be the bad guy in this story. We would not be surprised if it offers the bankruptcy accountants a deal to buy the company at a knock down price. After all most of the company debts seem to be owned by Jobs’ Mob.