"We have fulfilled what we told the farmers and vendors we would do in our original projections," said Leroy Schafer, Holly district manager in Torrington. "

Schafer said local vendors who are owed less than $5,000 will be paid in the next 30 to 60 days. Anyone due more than $5,000 would be in a different class, and will be paid under a separate section.

"Were glad to be getting back to business as usual," Schafer said Thursday afternoon. "We stayed on the schedule and kept people abreast of what was happening, and we came out of it as we said we would."

Craig Spencer, agriculture manager at Holly in Torrington, said the agriculture department is continuing to operate as usual, and has set the fall harvest schedule.

The Factory Yard will be the only early harvest location this fall. It will begin receiving beets Oct. 1. Albin and Wheatland, as well as Alliance, Neb., will begin their regular harvest Oct. 1, and all other stations will open Oct. 5.

"The crop is on track to meet our estimates," Spencer said. The next crop samples will be run Sept. 10.

In accordance with the plan, Imperials former common stock is canceled. Former shareholders in the company will receive approximately 0.0062 shares of common stock in the reorganized company for each share they previously held.

Issuance of shares is expected to occur in September. Additionally, former stockholders will receive warrants to acquire common stock in the reorganized company, which will expire in seven years.

The new common stock and warrants will be listed on a national securities exchange as soon as practicable, said officials.

In conjunction with the emergence, the company completed its previously announced $256.1 million senior secured credit facility led by Harris Trust and Savings Bank as administrative and collateral agent, and its $110 million accounts receivable securitization facility with GE Capitol.