Two Companies That Own Failed Dams in Midland File Bankruptcy
Those two dams that failed in Midland county caused massive damage to the surrounding communities and now the companies that own them are filing for bankruptcy protection.
It seems to me if you own and operate a business and that business fails the public in some way that the business is responsible for any damage it may cause.
That sounds simple enough, but there are always loopholes for companies to try and get out of their responsibilities to the public when something goes wrong.
There's no doubt that the two dams that did fail have cost the public millions in personal property damage not to mention the money that it costs to pay a company to stabilize the two dams and any other class action lawsuits that may be filed.
According to WOOD, Boyce Hydro and Boyce Hydro Power were in debt over six million dollars before the dams failed and have filed for Chapter 11 Bankruptcy protection in order to reorganize their finances.
Both companies are claiming that in no way were responsible for causing the the failures that led to the massive flooding. They do insist it was regulations and people wanting the lake level high.
I find that an odd response when it's on public record that the Army Corp of Engineers has said those two dams have needed repairs for several years. Those weakened dams are not new news.
Lee Mueller, who is the co-manager in the bankruptcy filing told WOOD-TV, "individuals and business owners whose property was damaged in the flooding have asserted millions of dollars in claims against the debtors, including via numerous class action and individual lawsuits that have been filed since the flooding occurred."
The flooding from the Edenville dam completely drained Wixom Lake and that lake is surrounded by houses with boats and docks.
The Tittabawassee River that runs out of Wixom Lake just ravaged everything downstream including the Sanford dam.
It is going to be a long while before all this gets sorted out.