Wednesday, 24 April 2024

Freedom Industries files for Bankruptcy

peter g. evans By peter g. evans | January 19, 2014 | United States

Freedom Industries, wholly owned by Chemstream Holdings Inc., seems to have filed for bankruptcy on Friday.

The company was behind the massive chemical spill that made tap water unsafe for more than 300,000 at West Virginians.

The problem was the storage tank of the company Freedom Industries,  the substance is over in Elk River , which is the reservoir of drinking water for the whole area . The authorities have banned the use of water for any reason , depriving the water service at least 300 thousand people.

Hundreds of Thousands of people in nine counties were not more able to drink or use the water of bath  because of the presence of those hazardous chemicals.

On the way, there were the trucks that have distruibuito bottles of safe water.

The public offices were closed the lack of a good of first necessity.

The problem has been poured even on the economy of the State and fast food restaurants have had to close, waiting for the pipes were cleaned.

Now the situation is improving, but still not back to normal, work is progressing briskly and many areas have again available to the normal water service.

However, in cities and rural emergency has not stopped,  the experts pointed out that it may take more days before checking definivamente the issue.

About the bankruptcy a representative for Freedom Industries told that the company would not be commenting it.

Despite that,  the U.S. attorney's office in West Virginia  that the new development would not have any effect on its ongoing investigation.

Freedom Industries currently owes $3.66 million to its top 20 creditors, including more than $2.4 million in unpaid taxes to the IRS.





  • Tags:   Freedom Industries Chemstream Holdings Inc. bankruptcy Elk River West Virginians U.S. attorney's office West Virginia IRS
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