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You are here: Home / News / Bank sues Mamtek for failed Moberly project

Bank sues Mamtek for failed Moberly project

November 8, 2011 By Jessica Machetta

The bank holding the bonds issued for the failed Mamtek project in Moberly is suing the company for $36 million. UMB Bank is holding the bonds because the city has defaulted on them. The bank also wants a receiver to be appointed to take over company assets before they can be sold. Mamtek planned to build an artificial sweetener plant in Moberly but the operation fell apart with a building only partly built and no jobs created. Mamtek has assigned its assets to a company to sell them.

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