Freedom Industries files for Chapter 11 bankruptcy relief

It is probably not surprising to many that the West Virginia company responsible for the chemical spill that caused widespread water contamination filed for protection under Chapter 11 of the Bankruptcy Code last week.  Bankruptcy Court documents revealed that the company is estimated to be worth between $1 million and $10 million but has liabilities within the same range.  More details will follow with the filing of more complete bankruptcy forms.  The chemical spill affected 300,000 people and lawsuits that are expected to be filed regarding the chemical spill may be the reason for the quick bankruptcy filing.

For more read, “W. Va. company in spill files for bankruptcy.”