Judge Rules Moberly is Not Liable for Mamtek Bonds

6 years 5 months 2 weeks ago Friday, February 28 2014 Feb 28, 2014 Friday, February 28, 2014 7:39:00 AM CST February 28, 2014 in News
By: The Associated Press

COLUMBIA (AP) - A federal judge has ruled that the city of Moberly and its industrial development authority are not responsible for bonds involved in a failed artificial sweetener plant project.

Moberly and the agency issued $39 million in bonds in July 2010 to finance construction of a Mamtek plant, which was expected to create 600 jobs. The project never materialized.

U.S. District Judge Nanette Laughrey ruled Monday that the city legally issued the bonds. She said that governments can't be sued for legal official acts, which prevents investment banker Morgan Keegan from arguing that the city was liable for the losses. Keegan sold the bonds issued by Moberly.

The Columbia Daily Tribune reports Keegan's attorney, Chuck Hatfield, says his clients haven't decided whether to appeal the ruling.

 

More News

Grid
List
COLUMBIA – The Boone County Commission released a letter on Friday, defending decisions made concerning CARES Act funding. On... More >>
40 minutes ago Friday, August 14 2020 Aug 14, 2020 Friday, August 14, 2020 4:53:00 PM CDT August 14, 2020 in News
JEFFERSON CITY - Some ballots requested near the state's deadline may not be returned by mail in time to be... More >>
1 hour ago Friday, August 14 2020 Aug 14, 2020 Friday, August 14, 2020 3:38:58 PM CDT August 14, 2020 in News
KANSAS CITY (AP) — Police have identified a man who was found shot to death in a grassy lot in... More >>
3 hours ago Friday, August 14 2020 Aug 14, 2020 Friday, August 14, 2020 2:12:00 PM CDT August 14, 2020 in News
(CNN) -- Police have charged a 25-year-old man with first-degree murder after they say he shot and killed a 5-year-old... More >>
3 hours ago Friday, August 14 2020 Aug 14, 2020 Friday, August 14, 2020 2:02:01 PM CDT August 14, 2020 in News
COLUMBIA — Missouri prosecutors on Wednesday came out against Republican Gov. Mike Parson's proposal to give the state attorney... More >>
6 hours ago Friday, August 14 2020 Aug 14, 2020 Friday, August 14, 2020 11:15:49 AM CDT August 14, 2020 in News
WASHINGTON (AP) — President Donald Trump is making clear why he opposes extra money for the cash-strapped U.S. Postal Service.... More >>
6 hours ago Friday, August 14 2020 Aug 14, 2020 Friday, August 14, 2020 11:12:01 AM CDT August 14, 2020 in News
( Missourian ) - Want to support Columbia businesses that are struggling through the pandemic and not leave your... More >>
6 hours ago Friday, August 14 2020 Aug 14, 2020 Friday, August 14, 2020 10:48:00 AM CDT August 14, 2020 in News
SPRINGFIELD (AP) — Police in southwestern Missouri are investigating the shooting death of a man in Springfield. Police said... More >>
6 hours ago Friday, August 14 2020 Aug 14, 2020 Friday, August 14, 2020 10:41:41 AM CDT August 14, 2020 in News
ST. LOUIS — The newest Major League Soccer team will be called St. Louis City SC when it debuts... More >>
7 hours ago Friday, August 14 2020 Aug 14, 2020 Friday, August 14, 2020 10:23:53 AM CDT August 14, 2020 in News
As COVID-19 continues to spread, KOMU 8 will continue to update you about impacts in the community. You can... More >>
7 hours ago Friday, August 14 2020 Aug 14, 2020 Friday, August 14, 2020 10:01:00 AM CDT August 14, 2020 in News
(CNN) -- Boris Johnson's latest strategy to fight coronavirus aims to make Britain healthier -- but campaigners are worried about... More >>
9 hours ago Friday, August 14 2020 Aug 14, 2020 Friday, August 14, 2020 8:05:05 AM CDT August 14, 2020 in A Brighter Tomorrow
KANSAS CITY, Mo. (AP) — A man has been charged in the shooting death of a 4-year-old Kansas City, Missouri,... More >>
11 hours ago Friday, August 14 2020 Aug 14, 2020 Friday, August 14, 2020 6:09:31 AM CDT August 14, 2020 in News
COLUMBIA - Forum Boulevard closed throughout the night for construction workers to build storm sewer drainage between Green Meadows Road... More >>
21 hours ago Thursday, August 13 2020 Aug 13, 2020 Thursday, August 13, 2020 7:44:00 PM CDT August 13, 2020 in Continuous News
COLUMBIA - Columbia’s City Council discussed homelessness Thursday during their budget work session. Ward 1 Council Member, Pat Fowler,... More >>
22 hours ago Thursday, August 13 2020 Aug 13, 2020 Thursday, August 13, 2020 7:16:00 PM CDT August 13, 2020 in News
(AP) - The NCAA will not conduct fall championship events - a move that does not effect major college football... More >>
23 hours ago Thursday, August 13 2020 Aug 13, 2020 Thursday, August 13, 2020 6:10:00 PM CDT August 13, 2020 in News
COLUMBIA — The owner of one of Columbia's oldest buildings is glad he invested in fire sprinklers when he bought... More >>
23 hours ago Thursday, August 13 2020 Aug 13, 2020 Thursday, August 13, 2020 5:58:00 PM CDT August 13, 2020 in News
WARDSVILLE - For the eighth consecutive season, Blair Oaks will start a Hair brother at quarterback this fall. From... More >>
23 hours ago Thursday, August 13 2020 Aug 13, 2020 Thursday, August 13, 2020 5:34:00 PM CDT August 13, 2020 in Sports
The American Psychiatric Association describes obsessive-compulsive disorder (OCD) as "an anxiety disorder in which time people have recurring, unwanted thoughts,... More >>
1 day ago Thursday, August 13 2020 Aug 13, 2020 Thursday, August 13, 2020 4:04:00 PM CDT August 13, 2020 in A Brighter Tomorrow
Columbia, MO
Broken Clouds 87°
6pm 84°
7pm 86°
8pm 81°
9pm 78°