News

Jun 18, 2011 7:44 PM by Matt Stafford

Colorado eco-friendly bottle pioneer locked in legal battle

DENVER (AP) - The man who started a company that first massed produced a biodegradable plastic water bottle made from corn remains locked in a legal fight over the company's demise in 2007.

David Zutler, founder of BIOTA Brands of America Inc., is in a legal battle with lender UPS Capital Business Services. A three-day trial over credit claims that remain following the company's alleged default on a loan, bankruptcy and sale of its bottling plant begins Monday in district court in Ouray.

Zutler says a win in court would allow him pursue damages of up to $90 million against the investment arm of shipping giant UPS.

UPS says BIOTA defaulted on a government backed loan. Zutler says UPS reneged on a forbearance agreement reached while the startup company worked toward profitability.

»Comments

»Topics in this article

More News

Weather - Forecast
Story Photo

10 hours ago

Warm Till Saturday

Temperatures start to climb again for Friday and Saturday where many locations will be in the 70s. However, by Saturday, the clouds...

Most Popular

Top Videos

1 2 3 4