Freedom Industries files for bankruptcy following last week's chemical spill

[cali]

Freedom Industries, the chemical company behind the toxic leak that tainted West Virginia's Elk River and forced 300,000 state residents and businesses to go without water for several days, filed for bankruptcy protection Friday.

The Chapter 11 bankruptcy filing will allow the company - facing at least two dozen class-action lawsuits, state and federal probes - to reorganize and continue operating.

Freedom, which was ordered shut down last week by state officials, declined comment Friday. A 35,000 gallon storage tank operated by the company leaked thousands of gallons of the coal processing chemical 4-methylcyclohexane methanol (MCHM), into the Elk River Jan. 9, affecting residences, businesses and schools in nine counties. MCHM can cause skin irritation, vomiting and diarrhea.

Freedom owes $3.66 million to its top unsecured creditors, according to bankruptcy documents, Charleston Gazette reported.

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http://www.usatoday.com/story/news/2014/01/17/freedom-industries-files-for-bankruptcy-following-last-weeks-chemical-spill/4587805/

[exboyfil]

1. What is the chance they have enough assets to make

those impacted whole?? Less than zero. Libertarian contract law works so well.

[louis-t]

2. Oh no no no no....

Seize all assets now, hold the CEO on criminal charges, use assets to clean up the mess first, then worry about the creditors.

[Initech]

6. Exactly what should be done!

Enough of this shit! Let's start holding the real white collar terrorists responsible for their actions!

[SamKnause]

3. Freedom

Is anyone truly surprised ?

You have to love those tax paying job creators.

The best and the brightest are running the US into the ground that they polluted.

How bad will it get before the people say enough is enough ????????

[Lars39]

4. Continue operating?!! Hell no!

[Rex]

5. OF COURSE they are protected! They are a corporation that owns politicians!

Not like us working stiffs, a corporation is far FAR more important to the PTB than the people! I have no doubt they will get away with murder.


JUST like BP - too big to hold accountable.

[Scuba]

7. See? The free hand of the market works!

Sarcasm thingy here for those lacking the gene.