The family of West Virginia Governor Jim Justice has come to an agreement with a credit collection company to prevent the foreclosure of their historic hotel as the governor pursues a U.S. Senate seat, the resort stated on Thursday. They were scheduled to appear in court on Friday to request a halt to the auction of The Greenbrier, which was initially planned for Tuesday, although it is uncertain if the hearing will proceed.
The potential auction of the hotel arose after JPMorgan Chase sold a longstanding loan taken out by the governor to a credit collection company called McCormick 101, a subsidiary of Beltway Capital, which deemed it to be in default. The Justice family declared that they had reached a deal with Beltway Capital to settle the debt by October 24, 2024, without disclosing the specific amount involved.
The family confirmed that they have already secured the necessary funds. According to the agreement, Beltway Capital will retain its rights if the Justice family fails to fulfill their obligations. Attempts to reach Beltway Capital for comment were unsuccessful.
The 60.5-acre property, which includes the hotel and parking lot, was slated for auction at a courthouse in Lewisburg. Legal representatives for the Justice family filed a motion seeking a preliminary injunction to stop the auction, arguing that a 2014 deed of trust was flawed as JPMorgan allegedly did not seek consent from the Greenbrier Hotel Corp.’s directors or owners, and that the planned auction goes against the company’s duty to act in good faith.
Governor Justice, who has a substantial net worth and owns numerous businesses, is currently running for U.S. Senate against Democrat Glenn Elliott. He has faced accusations in court related to delays in paying family business debts and fines for safety violations at his coal mines. After purchasing The Greenbrier out of bankruptcy in 2009, Justice assumed office as governor in 2017. The hotel has been a popular destination, hosting prominent figures including U.S. presidents and hosting a PGA Tour tournament from 2010 to 2019.
Apart from The Greenbrier, Justice’s family also owns The Greenbrier Sporting Club, a private luxury community. A planned auction of this property earlier this year to recover defaulted loans was postponed due to a legal dispute.
