Lawyers for Senator Jim Justice and his family business network say representatives of a New York firm considering a half-billion dollars in financing visited The Greenbrier all last week to kick the tires.
The lender is identified as Kennedy Lewis Investment Management LLC, which is a New York-based alternative asset management firm focused on opportunistic and private credit. Founded in 2017, it frequently invests in distressed debt and focuses on situations driven by events.
Kennedy Lewis is considering a financing deal that could pay off roughly $300 million in first-liens loans on The Greenbrier purchased earlier this year by White Sulphur Springs Holdings, an affiliate of Omni Hotels & Resorts. More money could go to pay down other debts and, potentially, upgrade The Greenbrier property.
This is all unfolding in U.S. District Court for the Southern District of West Virginia, where White Sulphur Springs Holdings filed a lawsuit to try to have a receiver named to run The Greenbrier while pushing out the Justices. The court case is mostly on hold while the Justices see through the financing possibility with Kennedy Lewis.
In granting a continuance, Judge Frank Volk ordered lawyers for the Justices to provide status reports through next month. The first was filed this week, saying “the financing transaction is proceeding as expected.”
The lawyers wrote that the Justices and representatives of Kennedy Lewis “spent the majority of last week conducting on-site due diligence at The Greenbrier.
“In total, more than 20 representatives of KLIM and its advisors met with members of The Greenbrier’s leadership team during a period from June 5, 2026, through June 11, 2026, to conduct due diligence and advance various aspects of the transaction.”
As a result, they said, “On-site due diligence is now substantially complete,” adding that “property inspection is substantially complete and has identified no issues that would adversely affect the Transaction Parties’ ability to close the transaction.”
Meanwhile, “Financial due diligence is at an advanced stage and similarly has identified no issues that would adversely affect the Transaction Parties’ ability to close the transaction.”
The amount of the financing, as described in a term sheet filed in federal court, is up to $500 million.
The primary parties include Justice Family Group LLC and a new holding company and subsidiary to be created prior to closing, called Greenbrier TopCo.
The loan is to be secured on a first-lien basis by a pledge of 100% equity in the borrower and all Greenbrier assets. Collateral also includes development projects, land and timber farms.
It also includes personal guarantees by some of the parties, although specific names are redacted in the exhibit. Jim Justice and several of his family members have signed personal guarantees in past financial arrangements.
Lawyers for White Sulphur Springs Holdings wrote in their own court filing that they would need more information about the potential loan to assess their position.
“The purported financing could vanish at any moment,” wrote lawyers for White Sulphur Springs Holdings in a federal court brief