Elk River West Virginia

Elk River West Virginia

Freedom Industries Declares Bankruptcy
The company that just contaminated the water supply in West Virginia has just used a technique available to corporations in the United States since the rewriting of bankruptcy laws during the Republican reign of power.
This method of avoiding being held responsible for your actions and/or commitments has proven to be a monetary windfall to corporations across this great nation.
Pension expenses to high? Declare bankruptcy and void the pensions. This works not only for corporations but government entities are also beginning to see the value of this action. (Detroit, Mi.)
Union contract too expensive? Declare bankruptcy and rewrite the contract or just void it all together.
BP was considering using this method when the messed up the Gulf of Mexico but they are a British corporation and supposedly are only 2/5s of a person under current law. 😉
Under the radar is the connection between Freedom Industries and Koch Industries.
And we all know of Koch Industries and their work at getting their handpicked candidates elected to office.
I am already tired of the political ads being run on local television daily. Give them a call and tell them to stop. Koch Industries phone number ( 316) 828-5500

Related story
http://www.forbes.com/sites/kensilverstein/2014/01/14/clean-up-chemical-leaks-and-put-safety-first-activist-tells-west-virginians/?ss=business:energy

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4 thoughts on “Elk River West Virginia

  1. Under Bankruptcy Law, the company has sought an “emergency loan” from a “Debtor in Possesion” from a corporation that didn’t exist until last last week. A “Debtor in Possession” has the first claim on any assets of the company in Bankruptcy. In an amazing feat of double dealing, the “emergency loan” will be from a corporation that just filed incorporation papers on Friday.

    The DIP agreement has places to sign for Freedom Industries and for WV Funding “by Mountaineer Funding LLC.”

    Mountaineer Funding was incorporated with the West Virginia secretary of state on Friday. Its one listed member is J. Clifford Forrest, Freedom Industries’ owner.

    What would you bet that there is no provision in bankruptcy law that Freedom Industries has any obligation to spend a dime of the “emergency loan”?

    http://www.wvgazette.com/News/201401170030

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