Imperial is the parent company of Holly Sugar Company, which has sugar beet factories in Torrington and Worland, Wyo., and Sidney, Mont.

"Weve said all along that well be a stronger company when we come out of Chapter 11," said Leroy Schafer, Hollys district manager in Torrington. "The good news is that we came out on schedule, and with this confirmation, well be able to fulfill the covenants of the plan.

"Right now we dont have details on how this will effect us locally, but hopefully, well have everything worked out this month.

"I feel pretty positive now about the coming year," Schafer added. "Well have this behind us, and it looks as if we can get some good prices for the farmers."

Imperials bondholders, senior secured lenders, other creditors and shareholders voted overwhelmingly in favor of the plan, according to a statement from Imperial.

Harris Trust and Savings Bank, as administrative agent and collateral agent, and a group of the companys present senior lenders are providing the company in connection with its emergence, a $256.1 million senior secured exit financing facility with varying dates of maturity up to Dec. 31, 2006. OE Capital is providing the company, in connection with its emergence, a three-year $110 million accounts receivable securitization facility. Imperial anticipates closing both financings and finalizing related plan documents in August, at which time the plan will become effective, and the company will emerge from bankruptcy.

James C. Kempner, president and CEO of Imperial, said, "With this important legal milestone passed, we look forward to our emergence from bankruptcy later this month. A number of individuals and entities have made this accomplishment possible, including customers, suppliers, lenders and shareholders. However, I want to reserve the most thanks for Imperials management and employees, whose hard work, dedication and long hours over the past seven months under difficult conditions, have made the companys reorganization possible.

"With its strengthened balance sheet and significantly reduced cost structure. Imperial Sugar Company will emerge from bankruptcy a strong and viable competitor in the rapidly evolving domestic sugar industry."

Imperial Sugar Company is the largest processor and marketer of refined sugar in the United States. Its products are marketed nationally under the Imperial, Dixie Crystals, Spreckels, Pioneer, Holly, Diamond Crystal and Wholesome Sweeteners brands.