Justice family says sale of The Greenbrier is ‘averted’, no mention of employee health care payments yet
By Stephen Baldwin, RealWV
In a statement sent to RealWV by Cam Huffman of The Greenbrier on Thursday morning, the Justice Companies announced that they have reached a deal to repay a delinquent lien to Beltway Capital (also known as McCormick).
The lien was the subject of an auction planned for August 27 on the steps of the Greenbrier County Courthouse. Beltway had intended to foreclose on the lien and sell the famed resort to the highest bidder.
See here for our previous story on the auction.
The Justices filed two motions earlier this week to delay the sale, with a hearing before Judge Bob Richardson scheduled for tomorrow. That hearing will not occur.
The statement says, “The Justice family…has reached an agreement with Beltway Capital. Under the agreement, Beltway Capital will receive a specific amount to be paid in full by October 24, 2024, which Justice has already secured. Beltway reserves its rights if justice family fails to perform.”
Asked for further comment, the Justice spokesperson said he had no additional information. RealWV also reached out to Beltway’s legal counsel for confirmation of the deal but it was not immediately returned.
The Justice statement did not mention unpaid employee health care premiums. As we reported on Monday, The Greenbrier received notice that employee health care would end next week if unpaid bills were not remitted in a timely manner. Coverage was set to end the same day as the auction, which now appears to be off.
“The Greenbrier Hotel Corporation is four months delinquent in its contributions to the Health Fund, owing approximately $2.4 million in delinquent contributions with an additional $1.2 million in contributions currently, or soon to be due and owing,” says a letter from Ronald Richman, attorney with Schulte Roth & Zabel LLP representing the Amalgamated National Health Fund, addressed to The Greenbrier Hotel.
The letter further states, “The Greenbrier’s Delinquent Contributions include contributions that were deducted from employees’ pay but not remitted to the Health Fund.”
Here is the full story from Monday.
A request for comment to employee representatives was not immediately returned this morning.
Stay tuned to RealWV for developments as this story unfolds.
