In the next few weeks, Freedom Industries will have at least two hearings in bankruptcy court to deal with various motions, including a final hearing on its financing motion.
Freedom Industries filed for Chapter 11 bankruptcy Jan. 17, following the Jan. 9 leak of crude MCHM into the Elk River.
In last week's hearing on first-day motions, attorneys for West Virginia American Water and Freedom Industries reached an agreement for what's known as debtor-in-possession financing while Freedom reorganizes under Chapter 11 bankruptcy code.
In this agreement, Freedom would get a $3 million cash infusion from Mountaineer Funding with the potential for an extra $1 million later.
The bankruptcy court set a final hearing at 1 p.m. Feb. 11 on Freedom's financing motion.
That same day, another earlier hearing will be at 10 a.m. on Freedom's motion to hire Chicago-based MorrisAnderson & Associates Ltd. as a financial advisor and the company's motion to hire Pietragallo Gordon Alfano Bosick & Raspanti LLP as special litigation counsel.
In that same hearing, Freedom will appear on its motion to hire Babst, Calland, Clements & Zomnir PC as special environmental counsel.
According to MorrisAnderson's website, the company describes itself as a "middle market consulting firm focused on underperforming and distressed companies."
The firm offers financial advisory, turnaround and crisis management, investment banking, performance improvement and litigation support, the site states.