Judge approves security for shredder

Feb 19, 2013 | 12:33 PM | Lisa Gordon

Tags  auto shredder, Alpha Scrap, Summit, Peter Coulopoulos, Lisa Gordon

PITTSBURGH — A judge has granted a bank’s emergency request to add security at a Gary, Ind., scrap metal processing operation after the scrapyard’s owner allegedly threatened to damage the auto shredder.

Bank of America NA and other financing parties have been trying to repossess equipment from Summit Inc., also known as Alpha Scrap Inc., which allegedly has been in default on its loan since 2009 (amm.com, Sept. 16, 2011). The financiers claim that owner Peter Coulopoulos installed the shredder but....





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