Friday, July 09, 2010
West Virginia Drilling Company Files Bankruptcy
WEST VIRGINIA....
Falling Waters-based Geological Technologies Inc., a West Virginia drilling and blasting company, estimates it owes up to $10 million to as many as 199 creditors. This week, the company filed for bankruptcy protection in federal court in Martinsburg while it restructures its debt. The company estimates assets of up to $10 million and has sued several creditors while aiming to prevent creditors from suing owners Robert Adams and Benny Mitchell to collect the company's debts. Lawyer Chip Magee Jr. says Geological Technologies plans to continue operating as it restructures and customers shouldn't notice any difference. GTI operates in West Virginia, Virginia, Maryland and Pennsylvania.
# posted by Homer Owens @ 7:06 AM 
