By Sarah Richardson
According to reports from the Wall Street Journal, Gov. Jim Justice has “offered a $300 million payment and half the value of his family coal business” to repay loans from Greensill Capital, a financial firm that filed for bankruptcy in March of this year. Originally, Justice and his family borrowed $850 million from Greensill, who sold the loans to the investment banking company Credit Suisse, according to The Journal. The loans were used to rebuild the Bluestone coal mine after Justice purchased it in 2015, with the Justice family personally guaranteeing the loans.
During a press briefing on Monday, Justice said that Bluestone representatives were “working along really, really well,” with Credit Suisse. Justice’s son, James “Jay” Justice, is the Chief Executive of Bluestone.
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