According to Leroy Schafer, district manager at the Torrington facility, the disclosure statement was approved at a hearing June 5 by the bankruptcy court in Delaware. It was originally scheduled for May 2, 2001.

"It took longer than expected to prepare, but it has been approved by the court, and we expect to have the confirmation hearing and be out of bankruptcy Aug. 7."

James Kempner, president and CEO of Imperial Sugar, released a statement following the courts approval. "We are pleased to have reached this significant milestone and to be ready to begin to solicit acceptance of our plan. We have worked closely with our bank group, the creditors committee and other interested constituencies on the structure of the plan."

According to Kempner, Imperial will be able to compete successfully in the domestic sugar industry with a de-leveraged balance sheet, once the plan is approved.

Kempner will conduct a conference call with the companys many offices today, June 12, to update them on the status of the Chapter 11 filing.

"Were well on our way to being out of bankruptcy," Schafer said. "We believe were going to be a stronger company when were through."

According to Schafer, capital projects at the Torrington facility are continuing as planned. Equipment is being installed to produce finer grained brown sugar and for confined space entry areas. Other projects scheduled are in the coal bag house, as well as equipment for producing new bags and installing fall protection for those who load pellets on trucks.