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SQP SALE Creditor payments



Published: Fri, June 15, 2001 @ 12:00 a.m.



Secured creditors for Sharpsville Quality Products have agreed on a plan for the disbursement of $862,000 from the sale of the bankrupt foundry. The amounts they will receive (with the amounts they are owed in parentheses) are:

J.J. Ritchie Inc.: $175,000 ($1,250,000).

Pennsylvania Industrial Development Authority: $282,000 ($376,000).

Pennsylvania Machinery and Equipment Loan Fund: $106,000 ($192,000).

Penn-Northwest Development Corp.: $38,000 ($50,000).

A New Beginning: $54,000 ($98,000).

Sharpsville Borough: $54,000 ($98,000).

Shenango Valley Enterprise Zone: $153,000 ($278,000).




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