Bank can seek repossession of shredder: judge

Sep 06, 2012 | 12:45 PM | Lisa Gordon

Tags  scrap metal, auto shredder, Summit, repossession, Indiana recycler, Alpha Scrap, Peter Coulopoulos, Bank of America Lisa Gordon

PITTSBURGH — Indiana metals recycler Summit Inc., which has been fighting a bank’s move to seize its shredder, is now facing repossession of the equipment after a judge ruled that the company’s financier properly filed its legal request.

Charlotte, N.C.-based Bank of America NA had asked the U.S. District Court in Indiana for permission to take possession of the Wendt model 82-104 heavy shredding system for dismantling and resale.....

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