Missouri Firms Seek Involuntary Bankruptcy for Mamtek

6 years 9 months 6 days ago Tuesday, December 20 2011 Dec 20, 2011 Tuesday, December 20, 2011 8:51:00 AM CST December 20, 2011 in News
By: Associated Press

MOBERLY (AP) - A Missouri bank has joined with four companies seeking to force a failed artificial sweetener factory within Moberly into an involuntary bankruptcy case.

The Moberly Monitor-Index reports that UMB Bank and four creditors filed a case in federal bankruptcy court in Kansas City. They want to force Mamtek U.S. Inc. into bankruptcy, so a judge can appoint a trustee who could sell the company's assets and distribute the money to creditors.

UMB already is the trustee for $39 million of municipal bonds used to finance the Mamtek project. Work on the facility halted this fall after Mamtek missed a payment and Moberly said it would default on the bonds.

The other creditors involved in the case include companies that had done work on the facility.

 

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