Owners of The Greenbrier Hotel have been released from millions of dollars in liens from the U.S. Internal Revenue Service and the West Virginia tax department.
The releases have occurred following a roughly $500 million financial deal between Senator Jim Justice and his family, owners of The Greenbrier since 2009, and the New York firm Kennedy Lewis Investment Management.
State and federal liens for missed tax payments had piled up, but representatives of the Justices had consistently said the deal would wipe them clean.
“The release of these liens is another positive step forward for The Greenbrier and reflects the continued progress being made to strengthen the resort’s financial position,” said Lloyd Nathan, who was named chairman of the board of Greenbrier Holdings LLC by Kennedy Lewis.
“We’re pleased to see these matters being resolved and remain focused on the long-term stability and success of The Greenbrier.”
The releases of the federal liens include some boilerplate language generally saying the statutory requirements have been satisfied.
On Sept. 3, the IRS released liens totaling $3.3 million, saying legal requirements had been met. The release was filed with the circuit clerk in Greenbrier County.
The related Greenbrier Clinic, the health center in the hotel, was also released from a lien of $289,893.
The liens were originally filed July 2, with the IRS saying, “We have made a demand for payment of this liability, but it remains unpaid.”
Also on Sept. 3, the West Virginia Tax Division withdrew nine liens amounting to about $3.9 million.
During a state Lottery Commission meeting late last month to review the effects of the financial deal with Kennedy Lewis on The Greenbrier’s casino license, Charleston attorney Steve Ruby, who represents the Justices, said the arrangement allowed payment of millions of dollars in tax debt, “which is again one of the the many many upsides benefits that that we’re very happy we were able to achieve by closing.”