New lawsuits filed over failed Moberly plant
Tue, 14 Jan 2014 15:33:08 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.