The financial problems of Governor Jim Justice and his family businesses never seem to end; they just keep popping up like dandelions in springtime.
For the second time in recent months, a legal advertisement has appeared in the West Virginia Daily News in Greenbrier County setting a date for a public auction of the Justice family-owned Greenbrier Resort.
The first auction—scheduled for August to satisfy an unpaid loan to Beltway Capital—was canceled when the Justice family announced it had acquired the money to pay the debt. “Under the agreement, Beltway will receive a specific amount to be paid in full by October 24, 2024, which Justice has already secured [emphasis added],” the family said in a statement.
So, as Justice would say, it’s all good in the neighborhood.
Why is there now a second forced auction scheduled for October 25? Justice said at a briefing Thursday, “This is nothing but a procedural matter.”
Evidently the debt owed to Beltway, which is $40 million in principal and interest, has not been paid yet, even though Justice said last August, “We acquired the funds.” Therefore, out of an abundance of caution, Beltway has scheduled a new auction date for the historic hotel just in case payment isn’t made.
As our Brad McElhinny reported, Justice was asked at yesterday’s briefing whether the specific amount owed the credit collection company was truly secured or whether it was still being secured last August, Justice answered, “Why should I disclose whether the amount is secured or being secured or more details about The Greenbrier? All I can tell you without question the balance of the amount will be paid.”
The Justice family is believed to be in discussions with Fortress Investment Group for financing to pay off the Beltway loan. Fortress is a private equity firm that, according to its website, provides “a wide variety of debt and capital solutions for borrowers and sponsors.”
Meanwhile, Justice is sticking with the narrative that all this is happening because he is a Republican running for Senate. “I believe without question it is 100 percent politically driven,” Justice said.
There is no evidence of that. However, there is plenty of evidence of Justice and his family businesses defaulting on loans and failing to pay creditors.