The Wall Street Journal reports:
West Virginia Gov. Jim Justice is personally on the hook for nearly $700 million in loans his coal companies took out from now-defunct Greensill Capital, according to people familiar with the loans and documents described to The Wall Street Journal.
Mr. Justice’s personal guarantee of the loans, which hasn’t been reported, puts financial pressure on the popular Republican governor. He is also dealing with unrelated lawsuits alleging parts of his sprawling network of coal companies breached payment contracts or failed to deliver coal.
Mr. Justice’s companies own several coal-related businesses, and have settled a number of cases in recent years for alleged nonpayment of bills, according to court records published by the investigative journalism website ProPublica.
Read the full article.
West Virginia Gov. Jim Justice (R) is personally on the hook for nearly $700 million in loans his coal companies took out from now-defunct Greensill Capital. His net worth has reportedly fallen from $1.2 billion to $450 million over the last year. https://t.co/SagWwLPyWd
— James Hohmann (@jameshohmann) May 31, 2021