Altus Venture $126 million View
Scissortail $90 million View
Foxborough $300 million View
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Venture capital (also known as VC or Venture) is a type of private equity capital typically provided to early-stage, high-potential, growth companies where the rewards are years out and carry a high risk. Venture capital is a special kind of funding to create a foundation for building the businesses that will replace today's diminishing industry and jobs. Oklahoma's venture tax credit program was intended to incentivize that venture capital funding needed by rewarding investors tax credits worth 20 to 30% of their at risk investment. |
Lawsuit filed by the First National Bank in Altus against Quartz Mountain Aerospace, Inc. (formerly Luscombe), First State Bank Altus, Oklahoma Industrial Finance Authority, the Altus Municipal Authority and Universal Funding Corporation.
Altus Ventures a sister subsidary of First State Bank Altus is believed to be the major owners of Quartz Mountain Aerospace, Inc.
The suit by the bank seeks foreclosure action against the aircraft corporation in connection with loans of $250,000 in 2005 and $200,010 in 2006. The suit filed in Jackson County District Court requests that equipment of the firm be sold to cover the debt. They also allege that the banks earlier loans should be paid off ahead of later loans that were provided through the Municipal Authority.
In The District Court And For Jackson County State Of Oklahoma
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First National Bank In Altus Vs. Quartz Mountain Aerospace |
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| Indebtedness | ||
| Case | CJ-09-00012 | |
| Date Filed | 01/13/2009 | |
| Plaintiff | First National Bank In Altus - Altus Ok | |
| Defendant | Quartz Mountain Aerospace | |
| Defendant | First State Bank Of Altus - Altus Ok | |
| Defendant | Oklahoma Industrial Finance Authority | |
| Defendant | Altus Municipal Authority | |
| Defendant | Universal Funding Corporation | |
| Judge | Darby, Richard B. | |
| Plaintiff Atty. | Vernon, Rick K. - Altus Ok | |