WHITE SULPHUR SPRINGS, W.Va. (WCHS) — The Justice family announced Thursday that it had reached an agreement to prevent the sale of the Greenbrier.
The Greenbrier Hotel Corp., owned and operated by Gov. Jim Justice’s family, has agreed to pay a set amount in full to Beltway Capital by Oct. 24, averting the sale of the company’s assets, which include the iconic resort, a family spokesman said in a news release.
The statement said the Justice family has already secured funding for the payment, but Beltway reserves rights if payment is not made.
The move comes after the Greenbrier was put up for public auction earlier this month after it failed to repay an original $142 million loan from JPMorgan. That loan was sold to Beltway, which subsequently declared it in default.
The Justice family claimed the move was a “political stunt.”
The settlement appears to remove one of the family’s many hurdles. A separate lawsuit filed earlier this month alleges that the Greenbrier Hotel Corporation failed to repay a $35 million pandemic relief fund.
A union council representing employees at the Greenbrier Hotel also expressed concern that employees could potentially lose their health insurance benefits after it said the hotel fell behind on its health insurance payments.
Jim Justice purchased the Greenbrier Resort in the summer of 2009.
