Investors in West Glen Town Center, which is operating under two court-ordered receiverships, have asked a federal judge to formally terminate a sales agreement that could have cleared financial and legal woes at the West Des Moines commercial and residential district.

The partners and Agman Holdings LLC of Omaha are embroiled in a dispute about the planned sale. In a purchase agreement that was signed in November 2011, Agman agreed to pay $38.5 million for West Glen.

However, the deal fell apart when Agman attempted to lower the price by $8.2 million, according to court documents filed by West Glen I LLC and West Glen Town Center LLC, which were organized to develop separate phases of the development.

Their counterclaims to a lawsuit filed last month by Agman also seek damages that could include a return of an inducement fee paid to Agman and the Nebraska company’s purchase deposit.