Moberly, Development Group Settle Mamtek Suit

6 years 7 months 3 weeks ago Wednesday, November 13 2013 Nov 13, 2013 Wednesday, November 13, 2013 1:54:00 PM CST November 13, 2013 in News
By: The Associated Press

MOBERLY (AP) - A Missouri community has agreed to pay $95,000 to end its involvement in a lawsuit filed by investors in a failed artificial sweetener plant.

The Columbia Daily Tribune reports Moberly and the Moberly Industrial Development Authority have settled a lawsuit filed by Shelter Insurance Cos. and other Mamtek investors.

The city filed notice of the deal with the Missouri Supreme Court this week and asked it to dismiss a pending case to determine whether the city could be forced to take part in the suit.

Mamtek defaulted in August 2011, a year after persuading Moberly leaders to issue $39 million in bonds with the promise of more than 600 jobs. Mamtek's claims also prompted state leaders to authorize up to $17.6 million in tax credits and incentives.

 

Related Stories

More News

Grid
List
As COVID-19 continues to spread, KOMU 8 will continue to update you about impacts in the community. You can... More >>
3 hours ago Saturday, July 11 2020 Jul 11, 2020 Saturday, July 11, 2020 10:24:00 AM CDT July 11, 2020 in News
COLUMBIA - Medical marijuana could be available in dispensaries this fall, now that two cultivation facilities passed inspection and... More >>
3 hours ago Saturday, July 11 2020 Jul 11, 2020 Saturday, July 11, 2020 10:17:00 AM CDT July 11, 2020 in News
KANSAS CITY, Mo. (AP) — A Kansas City councilwoman is calling for a plan to remove monuments and rename streets... More >>
3 hours ago Saturday, July 11 2020 Jul 11, 2020 Saturday, July 11, 2020 10:00:34 AM CDT July 11, 2020 in News
ST. LOUIS — KSDK News 5 On Your Side has learned St. Louis police officers executed a search warrant... More >>
3 hours ago Saturday, July 11 2020 Jul 11, 2020 Saturday, July 11, 2020 9:49:00 AM CDT July 11, 2020 in News
MARSHALL - An employee of The Living Center at Fitzgibbon Hospital tested positive for COVID-19 after showing no signs of... More >>
15 hours ago Friday, July 10 2020 Jul 10, 2020 Friday, July 10, 2020 9:40:00 PM CDT July 10, 2020 in News
COLUMBIA -- The 90-day mask ordinance passed by Columbia’s City Council went into effect at 5 p.m. on Friday. The... More >>
18 hours ago Friday, July 10 2020 Jul 10, 2020 Friday, July 10, 2020 6:48:00 PM CDT July 10, 2020 in News
COLUMBIA - The City announced eleven drop-off recycling locations after it put curbside recycling on hold until further notice Wednesday.... More >>
19 hours ago Friday, July 10 2020 Jul 10, 2020 Friday, July 10, 2020 6:13:00 PM CDT July 10, 2020 in News
COLUMBIA - Columbia's mask ordinance officially went into place at 5 p.m. on Friday, but many businesses in the city... More >>
20 hours ago Friday, July 10 2020 Jul 10, 2020 Friday, July 10, 2020 5:35:00 PM CDT July 10, 2020 in News
COLUMBIA — Summer sport leagues in Columbia have been trying to keep athletes safe amid the COVID-19 pandemic. Mid-Missouri... More >>
21 hours ago Friday, July 10 2020 Jul 10, 2020 Friday, July 10, 2020 4:36:00 PM CDT July 10, 2020 in News
HUNTSVILLE - An employee at the Randolph County Sheriff's Department was fired after body camera video was released to a... More >>
21 hours ago Friday, July 10 2020 Jul 10, 2020 Friday, July 10, 2020 3:49:00 PM CDT July 10, 2020 in News
COLUMBIA - Police are looking into two reports of indecent conduct on the MKT Trail, both of which happened within... More >>
21 hours ago Friday, July 10 2020 Jul 10, 2020 Friday, July 10, 2020 3:39:00 PM CDT July 10, 2020 in News
COLUMBIA- Tiger Academy of Gymnastics is hosting a summer camp for kids to attend, but it is going to look... More >>
23 hours ago Friday, July 10 2020 Jul 10, 2020 Friday, July 10, 2020 2:22:00 PM CDT July 10, 2020 in News
COLUMBIA – As Boone County struggles to keep up with the need for contact tracing in the community, volunteers are... More >>
1 day ago Friday, July 10 2020 Jul 10, 2020 Friday, July 10, 2020 12:49:00 PM CDT July 10, 2020 in News
COLUMBIA - UM System leaders unveiled a new plan to bring broadband access to a rural pilot community on Wednesday.... More >>
1 day ago Friday, July 10 2020 Jul 10, 2020 Friday, July 10, 2020 12:09:00 PM CDT July 10, 2020 in News
JEFFERSON CITY - The Bicentennial Bridge project is a $3.75 million dollar bridge to connect the Missouri State Capitol Complex... More >>
1 day ago Friday, July 10 2020 Jul 10, 2020 Friday, July 10, 2020 11:51:43 AM CDT July 10, 2020 in News
JEFFERSON CITY (AP) — President Donald Trump has approved Missouri’s request for a federal disaster declaration for severe storms in... More >>
1 day ago Friday, July 10 2020 Jul 10, 2020 Friday, July 10, 2020 11:38:46 AM CDT July 10, 2020 in News
COLUMBIA – The city mask ordinance for Columbia goes into effect at 5:00 p.m. on Friday, and education will be... More >>
1 day ago Friday, July 10 2020 Jul 10, 2020 Friday, July 10, 2020 11:00:00 AM CDT July 10, 2020 in News
COLUMBIA (Missourian) - In the midst of Missouri’s budget crisis, $125 million from the CARES Act will help higher... More >>
1 day ago Friday, July 10 2020 Jul 10, 2020 Friday, July 10, 2020 10:42:31 AM CDT July 10, 2020 in News
Columbia, MO
Broken Clouds 92°
2pm 89°
3pm 90°
4pm 90°
5pm 90°