Community Chat

[terrier3]

is getting messier. The company behind the spill, Freedom Industries, has filed for bankruptcy...putting on hold any lawsuits relating to the spill.

The company that is their "debtor in possession" is brand new, but is owned by the same man who owns Freedom Industries.

Basically one shell company is going bankrupt and placing its assets into another shell company, to escape civil liability for poisoning the water of 300,000 people.

Another mess...like the GMO issues...being swept under the rug!

[Yuban3]

Is anyone really surprised that they would declare bankruptcy in order to avoid paying out million$ to all the people that they affected?

I'm not.

In fact, it was kinda predictable.

[bathina]

Are you surprised? I'm not. There are plenty who will still scream that there's too much environmental regulation. Frack here, drill there, lay the pipes right over the largest aquifer in North America.....and let the chips fall where they may. I hope cooler heads will prevail in the long run.

[bathina]

hahaha Yuban. We posted the same thing! Quite a switch from the other thread.

[RoughDraft]

I absolutely expected it.

[terrier3]

On 1/19/2014 Yuban3 said:

Is anyone really surprised that they would declare bankruptcy in order to avoid paying out million$ to all the people that they affected?

I'm not.

In fact, it was kinda predictable.

I hope they are held accountable.

Moving assets around like this is bankruptcy fraud.

Now let's see if they are held accountable or if they have bought off the entire state.

[Yuban3]

On 1/19/2014 terrier3 said:

On 1/19/2014 Yuban3 said:

Is anyone really surprised that they would declare bankruptcy in order to avoid paying out million$ to all the people that they affected?

I'm not.

In fact, it was kinda predictable.

I hope they are held accountable.

Moving assets around like this is bankruptcy fraud.

Now let's see if they are held accountable or if they have bought off the entire state.

To be perfectly honest, I'll be surprised if they have to pay a single cent.

[terrier3]

On 1/19/2014 Yuban3 said:

On 1/19/2014 terrier3 said:

On 1/19/2014 Yuban3 said:

Is anyone really surprised that they would declare bankruptcy in order to avoid paying out million$ to all the people that they affected?

I'm not.

In fact, it was kinda predictable.

I hope they are held accountable.

Moving assets around like this is bankruptcy fraud.

Now let's see if they are held accountable or if they have bought off the entire state.

To be perfectly honest, I'll be surprised if they have to pay a single cent.

Yuban - and how do you feel about that?

[Yuban3]

On 1/19/2014 terrier3 said:

On 1/19/2014 Yuban3 said:

On 1/19/2014 terrier3 said:

On 1/19/2014 Yuban3 said:

Is anyone really surprised that they would declare bankruptcy in order to avoid paying out million$ to all the people that they affected?

I'm not.

In fact, it was kinda predictable.

I hope they are held accountable.

Moving assets around like this is bankruptcy fraud.

Now let's see if they are held accountable or if they have bought off the entire state.

To be perfectly honest, I'll be surprised if they have to pay a single cent.

Yuban - and how do you feel about that?

As I said in the first response, I'm not surprised that they declared bankruptcy in order to avoid paying out the millions of dollars to all the people who were affected by the spill. It's a page right out of the book titled, "How to Avoid Paying When It's Your Fault".

It's what companies do now.

It'll drag on for years and years and years, before the case is closed, and when that case is closed, I highly doubt that they will be forced to pay a single cent to anyone.

[biancardi]

we need to have better regulations and laws in place for companies that could cause damage to the environment in this manner.

They should have had a fund put aside into a federal lock box for this. Insurance, so to speak. And the more their business grows, the more money goes into it. It never comes out of that fund until something like this happens.

Americans are getting the sticky end of the lollipop all the time when it comes to these ecological disasters.