© 2024 St. Louis Public Radio
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

UMB Bank files lawsuit against Mamtek over Mo. plant

s_falkow | Flickr

A lawsuit has been filed in federal court against the company responsible for a failed artificial sweetener factoryin Moberly.

Mamtek U.S. Inc. planned to employ several hundred people at the central Missouri plant, and Moberly issued $39 million in bonds to pay for the project.

But Mamtek missed a bond payment and the plant still is under construction. Moberly has said it does not plan to pay off remaining bonds.

UMB Bank, which is the trustee for the bonds, filed a lawsuit Friday against Mamtek U.S. Inc. and Mamtek International. UMB Bank alleged that the company breached agreements. It also requested that a receiver be appointed to handle remaining assets.

There was a busy signal Monday at the phone number for Mamtek's offices in California.