A Virginia bank has decided to postpone the auction of land at West Virginia Gov. Jim Justice’s resort as part of an effort to recover over $300 million in defaulted business loans. The auction was initially set for March 5 but has now been rescheduled to a later date. This decision follows a legal filing by Carter Bank & Trust seeking to delay the auction and a hearing requested by the Greenbrier Sporting Club.
The bank published a notice in a local newspaper announcing the auction involving land at the Greenbrier Sporting Club, a private equity club and residential community owned by Justice. The club expressed concerns that the auction could impact thousands of jobs and harm both the club and the Greenbrier Resort, the largest employer in the county. Justice, a Republican, has faced legal challenges related to his business dealings and owes millions in fines for various issues, including unsafe working conditions at his coal mines.
The ongoing legal battle between the Justice family companies and Carter Bank has led to multiple attempts to transfer banking business to other lenders, which were allegedly blocked by Carter Bank. The complaints and lawsuits between the parties are still pending in court. Justice, who is currently seeking a U.S. Senate seat, has been a prominent figure in West Virginia politics and business.
The delay in the auction and the legal disputes highlight the complex financial and legal challenges faced by the Justice family and the bank. As the situation unfolds, the future of the land at the resort and the overall economic impact remain uncertain.
