This happens a lot: While it may not be looked on especially favorably, its not uncommon for companies facing legal costs and damages following such accidents to file for bankruptcy to protect their assets. Just last August, Montreal, Maine & Atlantic Railway Ltd. filed for bankruptcy to protect itself from potential liability after one of its runaway oil trains exploded and killed 47 people in a Quebec town. But while it may be a legal and financially savvy move, filing for bankruptcy does nothing to help the thousands of people who faced serious damages because of Freedom Industrys incompetency. mic.cm/1i9LwIV via @policymic [hz]
Posted on: Sun, 19 Jan 2014 02:50:00 +0000