- Man shot by police ID'd; witness shares his side of story (2/17/17)31
- Settlement reached in accidental shooting case at Kelly High (2/15/17)10
- Jackson board votes to demolish high school building if bond issue passes (2/15/17)24
- MSHP: McLendon shot in side; autopsy refutes witness account (2/19/17)23
- Cape officer shoots man inside a home (2/16/17)7
- Panda Express restaurant coming to Cape's Siemers Drive (2/14/17)2
- Business notebook: Owners ready to roll out the Barrel 131 (2/20/17)3
- Former Cape cop indicted on possessing child porn (2/17/17)
- Man dies after being shot by officer; said to have come at cop with knife (2/16/17)29
- Ray's of Kelso to close, then reopen under new ownership (2/16/17)6
Bank says Mamtek sale raised $1.8 million
MOBERLY, Mo. -- Bank officials say an auction of equipment at a failed sweetener plant in Moberly has so far raised less than 5 cents for every dollar spent to finance the project.
UMB Bank, the bondholder trustee for Mamtek U.S. Inc., said the Oct. 24 auction raised $1.8 million, but not every buyer at the auction has paid for their purchases. The bank says the money will distributed to holders of about $35 million in outstanding bonds.
The Columbia Daily Tribune reported Tuesday that the bank did not indicate the size of the payments or which bondholders would receive funds.
Investors bought $39 million worth of industrial development bonds from the city of Moberly to finance the plant. Mamtek's financing collapsed last year after it missed a bond payment.