Freedom Industries Files Bankruptcy Amid West Virginia Spill
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Freedom Industries Inc., the chemical maker whose leaky storage tank polluted the Elk River last week and shut down water service in West Virginia’s biggest city, filed for bankruptcy to cope with the subsequent lawsuits.
Freedom Industries listed assets and debt of $1 million to $10 million each in a Chapter 11 petition filed yesterday in U.S. Bankruptcy Court in Charleston, West Virginia. The company said the lawsuits and more stringent payment demands from vendors since the incident compelled it to seek court protection.