Greenbrier auction halted as Justices pay Beltway debt
By Stephen Baldwin, RealWV
In a statement released tonight at 9:39pm, the Justice Companies announced that they have paid a debt to Beltway Capital in full, thereby halting the announced auction of The Greenbrier Hotel.
“We are excited to have successfully paid in full our obligations to Beltway Capital and look forward to the future of The Greenbrier and Glade Springs,” said Dr. Jill Justice and Jay Justice. “This will allow us to invest further in our operations and enhance the experiences we provide to our guests. We appreciate the continued support from our partners, the patience of our valued team members, for whom we know this was a stressful period, and we look forward to welcoming visitors for many years to come.”
In August, Beltway gave public notice of their intention to auction the historic hotel to satisfy a debt. Several weeks later, the Justice Companies announced an agreement to pay the debt by October 24 and halt the auction.
Then last week, Beltway placed another legal notice of their intention to auction the hotel if full payment was not received by October 24.
Steve Ruby, legal counsel representing the Justice Companies, released the following statement in response to the legal ad: “As The Greenbrier previously announced, its agreement with Beltway Capital provides for a final payment to be made by October 24, 2024. The Greenbrier remains on track to make that payment. Today’s advertisement is merely a procedural matter. It in no way reflects any change in the parties’ relationship or The Greenbrier’s plans regarding payment.”
In a press conference, Governor Jim Justice, who is also currently running for US Senate and whose family owns the hotel, indicated that a final payment of approximately $22 million was due on October 24 and would be paid by then.
The source of the capital secured to pay the debt is unknown, though candidates for US Senate and US Senators must disclose their debts via regular reports. The Justice Companies have also entered into debt repayment plans with multiple other entities over the past year including Carter Bank & Trust.
Bob Wolford & Miller Johnson, a Michigan-based firm acting as legal counsel for the Justice Companies throughout the legal issues surrounding Beltway debts, announced that the final installment was paid in full via email statement to RealWV this evening.
“Having completed this process, the Justices will be in a position to provide extended stability for The Greenbrier’s operations, enabling continued investment in the resort’s facilities and services,” they said. “The Justice family remains committed to upholding the legacy of The Greenbrier as a premier destination for guests from around the world.”
