CHARLESTON – A circuit judge has ordered Gov. Jim Justice and one of his companies to pay more than $3.5 million to a bank to take care of three loans that were not fully paid.
Kanawha Circuit Judge Joanna Tabit filed an order awarding judgment June 27 to MVB Bank in a case it filed last year against Justice and Bluestone Resources Inc.
The three loans totaled more than $10 million, and the bank filed the lawsuit to enforce certain promissory notes and guaranty agreements related to one loan taken out May 23, 2018, in the amount of $2,751,752. It said Justice executed an unlimited personal guaranty.
Last week, Tabit issued an order granting the bank’s petition for attorney fees and court costs associated with the case. The bank said it incurred almost $61,500 in fees and costs through June 27, the date of the final order.
With the judgment and fees, the defendants owe close to $3.6 million to the bank. Also, interest is accruing at more than $500 per day.
Justice and his companies have a long history of civil litigation regarding nonpayment of loans.
According to the complaint, the lawsuit was filed to enforce certain promissory notes and guaranty agreements related to one loan taken out May 23, 2018 in the amount of $2,751,752. It says Justice executed an unlimited personal guaranty.
The promissory note for the loan gave MVB the ability to recover its costs and expenses of collection, including attorney fees. The complaint also said MVB has security interests in various items of equipment owned by Bluestone, and it said it can require Bluestone to deliver all of said equipment, including certificates and titles, to the bank or allow the bank access to Bluestone property to obtain the equipment.
MVB Bank is being represented by James W. Lane Jr. and Eric M. Johnson of Flaherty Sensabaugh Bonasso in Charleston. The defendants are being represented by Steve Ruby and David Pogue of Carey Douglas Kessler & Ruby in Charleston.
Kanawha Circuit Court case number 22-C-708