CHARLESTON, W.Va. -- Freedom Industries is seeking a federal bankruptcy judge's approval to hire an expert to help it wind down business. <\/p>\n
Attorneys for the company at the heart of January's chemical spill filed the expedited application Tuesday along with a motion to speed up the hearing process. <\/p>\n
In its motion, Freedom seeks to appoint Mark Welch of MorrisAnderson & Associates as its chief restructuring officer. <\/p>\n
\"Mr. Welch has a wealth of experience in providing advisory services in restructuring and reorganizations and enjoys an excellent reputation for services rendered in large and complex Chapter 11 cases,\" the motion states. <\/p>\n
As chief restructuring officer, Welch will manage the wind down process, assist in settlement or litigation of disputed claims, manage the sales process of Freedom's assets and serve as Freedom's representative before bankruptcy court, the motion states. <\/p>\n
Welch also will approve all environmental work and help to prepare a Chapter 11 plan of liquidation, according to the motion. <\/p>\n
The document mentions the motion to hire MorrisAnderson, which is pending before the court. In a Feb. 11 motions hearing, Freedom's attorneys said the company is winding down its inventory and transferring its customers and employees to other vendors. <\/p>\n
The court was scheduled to hear the motion to hire the Chicago-based business but instead adjourned the hearing on that motion because attorneys said the company's role could change. <\/p>\n
Attorneys for the company at the heart of January's chemical spill filed the expedited application Tuesday along with a motion to speed up the hearing process. <\/p>\n
In its motion, Freedom seeks to appoint Mark Welch of MorrisAnderson & Associates as its chief restructuring officer. <\/p>\n
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Freedom wants an expert to help it wind down business<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" CHARLESTON, W.Va. -- Freedom Industries is seeking a federal bankruptcy judge's approval to hire an expert to help it wind down business. Continue reading