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Tue January 21, 2014
Freedom Industries Approved for $4 Million in Credit Following Spill
Attorneys for the company behind West Virginia's chemical spill said in federal bankruptcy court Tuesday that they've secured a deal for up to $4 million in credit to continue operations.
Mark Freelander, an attorney for Freedom, released key details. He said the arrangement reached after an hours-long court hearing would allow Freedom Industries to continue paying its employees and top vendors and also provide funds to cover for environmental cleanup from a Jan. 9 chemical spill in the Elk River.
The spill contaminated water supplies for some 300,000 people in West Virginia.
The agreement with a lender comes after Freedom Industries President Gary Southern said earlier Tuesday that the company had already paid about $800,000 last week to remediate environmental damage from the spill.