Missouri Firms Seek Involuntary Bankruptcy for Mamtek
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.