Current:Home > StocksWest Virginia Republican Gov. Jim Justice in fight to keep historic hotel amid U.S. Senate campaign -Blueprint Money Mastery
West Virginia Republican Gov. Jim Justice in fight to keep historic hotel amid U.S. Senate campaign
FinLogic FinLogic Quantitative Think Tank Center View
Date:2025-04-07 16:26:15
CHARLESTON, 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! (251)
Related
- 'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
- A stowaway groundhog is elevated to local icon
- Lady Gaga’s Brunette Hair Transformation Will Have You Applauding
- As Baltimore’s Sewer System Buckles Under Extreme Weather, City Refuses to Help Residents With Cleanup Efforts
- Sarah J. Maas books explained: How to read 'ACOTAR,' 'Throne of Glass' in order.
- Bills LB Matt Milano out indefinitely with torn biceps
- Gena Rowlands, acting powerhouse and star of movies by her director-husband, John Cassavetes, dies
- Wildfires are growing under climate change, and their smoke threatens farmworkers, study says
- Could your smelly farts help science?
- Video shows 2 toddlers in diapers, distraught in the middle of Texas highway after crash
Ranking
- Stamford Road collision sends motorcyclist flying; driver arrested
- CPI report for July is out: What does latest data mean for the US economy?
- Giants trading Jordan Phillips to Cowboys in rare deal between NFC East rivals
- A teen was falling asleep during a courtroom field trip. She ended up in cuffs and jail clothes
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- Taylor Swift Returns to the Stage in London After Confirmed Terror Plot
- Wildfires are growing under climate change, and their smoke threatens farmworkers, study says
- Red Cross blood inventory plummets 25% in July, impacted by heat and record low donations
Recommendation
2 killed, 3 injured in shooting at makeshift club in Houston
Remembering Wally Amos: Famous Amos cookies founder dies at 88
'My heart is broken': Litter of puppies euthanized after rabies exposure at rescue event
Matthew Perry's Stepdad Keith Morrison Shares Gratitude for Justice After Arrest in Death Case
Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
Matthew Perry's Stepdad Keith Morrison Shares Gratitude for Justice After Arrest in Death Case
Stuffed or real? Photos show groundhog stuck inside claw machine
Oklahoma city approves $7M settlement for man wrongfully imprisoned for decades