West Virginia Gov. Jim Justice fights bank seeking to auction off his resort property
From Fortune:
Attorneys for the family of West Virginia Gov. Jim Justice have filed a complaint to block Virginia bank Carter Bank & Trust from auctioning off land at the Greenbrier Sporting Club in White Sulphur Springs to recover more than $300 million in defaulted business loans. The complaint is seeking an injunction that would halt the auction.
A federal lawsuit was filed by the Justice companies against the bank Carter Bank & Trust in November and is pending. The Justice companies made attempts on at least four occasions between 2021 and 2023 to transfer their banking business from Carter Bank to other lenders, but these efforts were allegedly blocked or sabotaged by the bank.
Carter Bank, which is owed $302 million in principal debt in addition to interest and fees by companies owned by the governor’s family, has stated that it plans to “aggressively” pursue the amount owed and has an obligation to collect all amounts due and owing.
The Greenbrier Sporting Club is a private equity club and residential community that opened in 2000 and is the subject of the auction scheduled for March 5. West Virginia Gov. Jim Justice has described Carter Bank as “beyond belief terrible” and expressed his intention to “push back” against the bank.
Justice, a Republican who is facing court claims that he owes millions in unpaid fines, is finishing his second term as governor this year and is running for the U.S. Senate seat currently held by Democrat Joe Manchin. The onetime billionaire was revealed to be worth significantly less in 2021, and dozens of properties owned by Justice were put up for auction last year for delinquent real estate taxes.
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