Indiana shredder sued for default on loans

Sep 16, 2011 | 05:28 PM | Lisa Gordon

Tags  scrap metal, auto shredder, Summit, Alpha Scrap, Peter Coulopoulos, Kelly Coulopoulos, Lisa Gordon

PITTSBURGH — Bank of America NA is asking a court to appoint a receiver at a Gary, Ind.-based scrap metals recycler and processor so that it can recover more than $4.9 million in defaulted loans.

The financial institution filed the lawsuit against Summit Inc.—also operating as Alpha Scrap Inc. and Lake County Trust Co.—in federal U.S. District Court in Indiana. Also named as defendants were owner Peter Coulopoulos and president Kelly Coulopoulos.....

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