Gov. Justice Acknowledges Responsibility For $700 Million In Unpaid Business Loans

[SouthBayDem]

Source: West Virginia Public Broadcasting

West Virginia Gov. Jim Justice has acknowledged that he owes $700 million in loans that have yet to be paid by one of his coal companies.

The governor fielded questions about the outstanding loans Tuesday during his COVID-19 briefing, following a report that indicated his responsibility for the debt.

The Wall Street Journal reported Sunday that Justice’s Bluestone Coal Corp. had taken out loans from Greensill Capital in 2018. The lending company recently went bankrupt, leaving a Swiss bank that bought the debt trying to recoup the funds.

Bluestone and Credit Suisse are reportedly now in talks about repayment, according to The Wall Street Journal. Bluestone has also sued Greensill for fraud in federal court.

Read more: https://www.wvpublic.org/2021-06-01/gov-justice-acknowledges-responsibility-for-700-million-in-unpaid-business-loans

[cstanleytech]

1. Jim Justice is a piece of shit. nt.

[Roy Rolling]

2. Just like his Hero

A deadbeat like Trump.

[modrepub]

3. Any One Want To Bet

he won't be paying the full $700M? Bankruptcy for lesser folks is less forgiving than for the rich or corporations. If Dems had any sense they'd keep an eye on this and point out the difference between folks like Justice and the "average Joe" Repubs like to point out they are helping.

[PatSeg]

4. $700 million???

Is he competing with Trump for the title "King of Debt"?

[onetexan]

5. Says Millions, not billions. Still...wonder how much the guy's worth

Probably more than the Con?

[PatSeg]

6. Oops, I'm not awake yet

I knew it was "million". Guess I was thinking how close $700 million is to a billion dollars, which I find mind-boggling.

I wonder if we'll ever find out how much money Trump actually owes. I imagine that some of his many expensive properties are operating at a loss. How on earth can he maintain them and stay afloat? Seeing his gold plated empire crumble will be very satisfying.

[onetexan]

8. This justice scoundrel operates in same manner as the con

No paying taxes & his creditors. I googled him out of curiosity &Forbes says he's no longer a billionaire & worth somewhere about 800M due to the debts tied to this bankrupt financier & the russians.birds of a feather.

[PatSeg]

9. God, it is an epidemic

But then there are people out there who will do whatever we let them get away with. Too often the laws are on their side, which tends to happen when we allow corporations and the wealthy buy politicians.

[Wuddles440]

7. What's even more appalling...

is that such a grifting, mooching, scumbag gets elected to public office in the first place and, even more so, in one of the poorest states in the nation. Sad and disgusting.

[patphil]

10. When Trump was talking about the coal industry having a comeback, he shouldn't have listened.