Judge: Likely to Approve Freedom Industries’ Bankruptcy Deal

A judge says he’s looking to approve Freedom Industries’ $2.5 million bankruptcy deal. Judge Ronald Pearson spoke favorably of the plan this week pushed by Freedom Industries, the state Department of Environmental Protection and creditors. The plan says Freedom parent company Chemstream Holdings would add $1.1 million to clean up the Charleston spill site. Freedom would contribute $1.4 million. Previously, Freedom proposed only $150,000 for additional cleanup, which Pearson rejected. Pearson said his approval awaits the change of cleanup contractors at the spill site and related deadline extensions in the settlement. The agreement says DEP can’t sue Chemstream for the spill or cleanup.