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New Lawsuits Filed over Failed Sweetener Plant

Tue, 01/14/2014 - 12:36pm

MOBERLY, Mo. (AP) — 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.

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Information from: Columbia Daily Tribune, http://www.columbiatribune.com

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