Jun 18, 2011 7:44 PM by Matt Stafford
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.