Freedom Industries, the West Virginia company responsible for last week's toxic chemical spill that poisoned water supplies across the state and left 300,000 people without access to drinkable water, and which was cited for more violations this week, just filed for Chapter 11 bankruptcy protection.

Looks like they're getting out ahead of those massive fines and lawsuits.

The chemical involved in the spill, if you weren't aware of it, is used in coal processing to help reduce the amount of ash produced when it's combusted.