Current:Home > StocksCharles H. Sloan-West Virginia Republican Gov. Jim Justice in fight to keep historic hotel amid U.S. Senate campaign -Clarity Finance Guides
Charles H. Sloan-West Virginia Republican Gov. Jim Justice in fight to keep historic hotel amid U.S. Senate campaign
Chainkeen Exchange View
Date:2025-04-10 08:15:03
CHARLESTON,Charles H. Sloan W.Va. (AP) — West Virginia Gov. Jim Justice, a Republican candidate for U.S. Senate, is in a fight to keep his iconic Greenbrier hotel.
A legal notice announcing a public auction for the luxury resort near White Sulphur Springs due to unpaid debts was publicized in the West Virginia Daily News Wednesday — only the latest development in the Justice family’s financial woes.
Justice, who owns dozens of companies and whose net worth was estimated by Forbes Magazine to be $513 million in 2021, has been accused in numerous court claims of being late in paying millions of dollars he owes in debts for family businesses and fines for unsafe working conditions at his coal mines.
Justice, who began serving the first of his two terms as governor in 2017, bought The Greenbrier, which has hosted U.S. presidents and royalty, out of bankruptcy in 2009. The PGA Tour held a tournament at the resort from 2010 until 2019.
His family also owns The Greenbrier Sporting Club, a private luxury community with a members-only “resort within a resort.” That property was scheduled to be auctioned off this year in an attempt by Carter Bank & Trust of Martinsville, Virginia, to recover more than $300 million in business loans defaulted by the governor’s family, but a court battle between the Justice family and the bank delayed that process.
Wednesday’s notice said the auction involves 60.5 acres — including the hotel itself and the adjacent parking lot — and is scheduled for August 27 at 2 p.m. at the Greenbrier County Courthouse in Lewisburg.
A spokesperson for Justice said the impending auction is not a state government matter and the governor’s office wouldn’t comment. Campaign staff did not return an email from The Associated Press Thursday.
In a statement to West Virginia MetroNews, Justice attorney Bob Wolford accused lender JPMorgan Chase Bank of aligning with the Democrats “to undermine the next Republican Senator from West Virginia.”
The statement said that the Justice family originally secured a $142 million loan in 2014 from JPMorgan Chase and that only $9.4 million in debt remains after payments made as recently as June of this year.
On July 1, the governor was notified by JPMorgan Chase that it had sold Justice’s loan to Beltway Capital, which declared it to be in default.
“Let me be clear that the Greenbrier will not be sold, and the Justice family will take all necessary action to ensure that there will not be any adverse impact on their ownership of the Greenbrier or the Greenbrier’s operations and the ability of the Greenbrier to continue to provide world class service for its guests will be uninterrupted,” Wolford told MetroNews.
veryGood! (577)
Related
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Al Roker Makes Sunny Return to Today Show 3 Weeks After Knee Surgery
- Pregnant Serena Williams Shares Hilariously Relatable Message About Her Growing Baby Bump
- Supreme Court takes up dispute over educational benefits for veterans
- US appeals court rejects Nasdaq’s diversity rules for company boards
- Studying the link between the gut and mental health is personal for this scientist
- Rent is falling across the U.S. for the first time since 2020
- As Solar Pushes Electricity Prices Negative, 3 Solutions for California’s Power Grid
- Nevada attorney general revives 2020 fake electors case
- Bullish on Renewable Energy: Investors Argue Trump Can’t Stop the Revolution
Ranking
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- DeSantis unveils border plan focused on curbing illegal immigration
- States Begged EPA to Stop Cross-State Coal Plant Pollution. Wheeler Just Refused.
- Lisa Rinna Reveals Horrible Death Threats Led to Her Real Housewives of Beverly Hills Exit
- Pressure on a veteran and senator shows what’s next for those who oppose Trump
- Katrina Sparks a Revolution in Green Modular Housing
- Video: Dreamer who Conceived of the Largest Arctic Science Expedition in History Now Racing to Save it
- Obama: Trump Cannot Undo All Climate Progress
Recommendation
A South Texas lawmaker’s 15
Kim Kardashian’s SKIMS Only Has Sales Twice a Year: Don't Miss These Memorial Day Deals
Maryland to Get 25% of Electricity From Renewables, Overriding Governor Veto
New Study Shows Global Warming Increasing Frequency of the Most-Destructive Tropical Storms
Bill Belichick's salary at North Carolina: School releases football coach's contract details
Transcript: Rep. Mike Turner on Face the Nation, June 25, 2023
Big Oil Has Spent Millions of Dollars to Stop a Carbon Fee in Washington State
Having an out-of-body experience? Blame this sausage-shaped piece of your brain