New lawsuits filed over failed Moberly plant
Tue, 14 Jan 2014 15:42:47 GMT —
A bankruptcy trustee has filed lawsuits seeking millions of dollars in damages against former officials with Mamtek, the company behind a failed plan to build a sweetener facility in Moberly.
The Columbia Daily Tribune reports Trustee Bruce Strauss filed lawsuits last week seeking repayment of $7 million that former officers and agents of Mamtek received. The lawsuits also seek actual damages of $72 million and punitive damages.
Moberly issued $39 million in bonds in 2010 to finance the proposed plant, which promised 600 jobs for the town. Mamtek missed a bond payment in 2011 and Moberly let the bonds default. Strauss was appointed trustee for Mamtek after the company filed for involuntary bankruptcy in late 2011.
MFA Oil to buy site of failed sweetener factory
Federal judge declines to step down in Mamtek suit
Judge orders monitoring for former Mamtek boss
Former Mamtek CEO out on bail