MFA Oil announced this afternoon it has been approved to purchase property in Moberly that would have housed the Mamtek facility. MFA officials could not comment on the sale price, but say a bankruptcy court has approved the sale of the 33 acre property.
Corey Mehaffy is the President of Moberly Area Economic Development. He said the city is looking forward to assisting MFA in preparing the facility for use after the previous trouble the city had with the space.
A federal judge in Missouri has refused to remove herself from a lawsuit involving a failed sweetener company whose leaders were aggressively questioned by the judge's lawmaker husband.
Attorneys for investment bank Morgan Keegan wanted U.S. District Judge Nanette Laughrey to step aside from a lawsuit filed by an Alabama investor in the failed plant in Moberly.
The Columbia Tribune reports John Cromeans is seeking restitution of $50,000 he spent on bonds issued by the Moberly Industrial Development Authority for Mamtek U.S. Inc. and marketed by Morgan Keegan.
Earlier this week, KBIA told you the City of Moberly has paid at least $677,000 in court fees since the Mamtek sucralose factory failed in 2010, including at least $60,000 in fees so far in April. Today, the Moberly Monitor-Index is reporting the city and its development authority have both been dismissed from a case being brought against them by Mamtek bondholders.
The MMI has just been informed that the City of Moberly and the Industrial Development Authority for the City have been dismissed from the court litigation brought by certain Mamtek bondholders, by Judge Patricia S. Joyce.Joyce granted the City and IDA's Motion for Dismissal late Thursday,
The former CEO of a failed artificial sweetener facility has been released from a Missouri jail after posting $10,000 bail while awaiting trial on theft and fraud charges.
Officials at the Randolph County jail say Bruce Cole was released Monday. He faces one theft charge and four counts of securities fraud stemming from the financial collapse of a Mamtek U.S. facility in Moberly in 2011.
A central Missouri judge will allow media to have cameras, audio and video recording during court appearances by the former head of an artificial sweetener company now facing charges of theft and securities fraud.
Bruce Cole was chairman and CEO of Mamtek U.S. Inc., which received $39 million in industrial development bonds from the city of Moberly to build a sweetener plant. Construction stalled after a bond payment was missed. Authorities accuse Cole of using bond revenues for personal purposes and misleading investors.