West Virginia Gov. Jim Justice’s Companies Look to Surging Coal Prices to Pay Off Debts

West Virginia Gov. Jim Justice and Credit Suisse Group AG are looking to take advantage of surging coal prices to help him pay off nearly $850 million in loans his companies borrowed from now-collapsed Greensill Capital.

Representatives of the Swiss bank and Mr. Justice’s family of companies met face-to-face this month in West Virginia to sort outPlans under discussion include ramping up output at coal mines operated by the Justice family’s Bluestone Resources Inc., according to a person familiar with the conversations. Also on the table: revitalizing the famed Greenbrier resort in White Sulphur Springs, W.Va to increase its profitability. Mr. Justice bought the resort in 2009.

WV Trumpets deserve Justice.

“Mr. Justice’s companies owe nearly $700 million to the Credit Suisse funds”. Governor has a mountain of debt & still re-elected? West Virginia gets what they get.

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Source: politico - 🏆 381. / 59 Read more »