MOBERLY, Mo. (AP) — A Missouri bank has joined with four companies seeking to force a failed artificial sweetener factory in 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.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments
  1. filing for bankruptcy says:

    Far too often, people file for bankruptcy unaware of what may happen and how bankruptcy will affect their debts and assets. Don’t fall into that trap.

    filing for bankruptcy

Leave a Reply

Please log in using one of these methods to post your comment:

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

Listen Live