Carr
CLAYTON, Mo. - International Fuel Technology, a failing firm in which St. Louis attorney Rex Carr holds the biggest share of ownership, has retained Joseph Devereux and Vicki Little of Clayton, Mo., to defend a suit claiming the company cheated British inventors.
Devereux entered an appearance in St. Louis County Circuit Court on July 17, declaring he would answer the lawsuit Aug. 16.
Jack Spooner of Clayton filed the suit June 10, on behalf of Ian Williamson and Clifford Hazel of the United Kingdom.
Williamson and Hazel claim they invented a fuel additive and sold a company that held the patent to International Fuel Technology in 2001.
They claim International Fuel Technology misrepresented its financial condition. As a result, they claim, the company did not honor their sale agreement or an employment agreement with Williamson.
Williamson and Hazel say the company filed false reports with the U.S. Securities and Exchange Commission.
Commission records show International Fuel Technology has admitted that one of its annual reports included misstatements.
An auditor recently expressed doubt about its ability to continue as a going concern.
Carr, as a director of the company, loaned it $1 million last year and guaranteed a $500,000 loan from another director.
Williamson and Hazel sued Carr individually along with the company.
Devereux and Little represent the company and Carr represents himself.
St. Louis County Circuit Judge David Vincent presides over the case.