[net-gold] DISASTERS: CHEMICAL SPILLS : RIVERS : WATER : UNITED STATES: STATES: WEST VIRGINIA : WATER POLUTION : ENVIRONMENT: POLLUTION : ENERGY : HEALTH: ISSUES : BUSINESS: COMPANINES: NAMED COMPANIES: FREEDOM INDUSTRIES: Freedom Industries to Shut Down 'Sooner Rather Than Later'
- From: "David P. Dillard" <jwne@xxxxxxxxxx>
- To: Net-Gold -- Educator Gold <Educator-Gold@xxxxxxxxxxxxxxx>, net-gold@xxxxxxxxxxxxx, Net-Gold <Net-Gold@xxxxxxxxxxxxxxx>, NetGold <netgold@xxxxxxxxxxxxxxx>, K-12ADMINLIFE <K12ADMIN@xxxxxxxxxxxxxxxxxxx>, K12AdminLIFE <K12AdminLIFE@xxxxxxxxxxxxxxx>, MediaMentor <mediamentor@xxxxxxxxxxxxxxx>, Nabble Groups Net-Gold <ml-node+s3172864n3172864h56@xxxxxxxxxxxxx>, Net-Platinum <net-platinum@xxxxxxxxxxxxxxx>, Sean Grigsby <myarchives1@xxxxxxxxxxxxxxx>, Net-Gold <NetGold_general@xxxxxxxxxxxxxxxxx>, Temple Gold Discussion Group <TEMPLE-GOLD@xxxxxxxxxxxxxxxxxxx>, Temple University Net-Gold Archive <net-gold@xxxxxxxxxxxxxxxxxxx>, "Net-Gold @ Wiggio.com" <netgold@xxxxxxxxxxxxxx>, Health Lists -- Health Diet Fitness Recreation Sports <healthrecsport@xxxxxxxxxxxxxxx>, HEALTH-RECREATION-SPORTS-TOURISM@xxxxxxxxxxxxxxxxxxx
- Date: Sun, 23 Feb 2014 08:39:35 -0500 (EST)
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DISASTERS: CHEMICAL SPILLS :
RIVERS :
WATER :
UNITED STATES: STATES: WEST VIRGINIA :
WATER POLUTION :
ENVIRONMENT: POLLUTION :
ENERGY :
HEALTH: ISSUES :
BUSINESS: COMPANINES: NAMED COMPANIES: FREEDOM INDUSTRIES:
Freedom Industries to Shut Down 'Sooner Rather Than Later'
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Freedom Industries to Shut Down 'Sooner Rather Than Later'
February 21, 2014
By David Gutman
Charleston Gazette
http://www.wvgazette.com/News/201402210078
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CHARLESTON, W.Va. -- What has seemed inevitable for weeks was made
official today: Freedom Industries will soon be finished as a company.
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Mark Freedlander, a lawyer representing Freedom, told U.S. Bankruptcy
Court Friday morning that the company responsible for contaminating the
water of 300,000 West Virginians will wind up its affairs -- including
environmental remediation -- and then begin sending all its customers to
its former competitors.
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That will happen "sooner rather than later," Freedlander said.
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All of Freedom's remaining chemical inventory will be sold in a matter of
days, he said.
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"It just became apparent in relatively short order," Freedlander said,
"that it was not practical or financially viable" to continue operating
the company.
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Freedom was represented at Friday's bankruptcy hearing only by its
lawyers. No company executives attended.
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In a news release issued after the hearing, Gary Southern, Freedom's
president, said that selling the company's inventory and shifting its
business to competitors "represents Freedom's best opportunity to generate
funds it needs for our environmental remediation efforts."
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snip
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Dozens of class-action lawsuits filed against Freedom are on hold while
the bankruptcy process plays out. Today's announcement made clear what was
already apparent -- the pool of money for those lawsuits, and for all of
Freedom's hundreds of creditors, will be limited.
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The complete article may be read at the URL above.
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Sincerely,
David Dillard
Temple University
(215) 204 - 4584
jwne@xxxxxxxxxx
http://workface.com/e/daviddillard
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