MARTINSVILLE, Va. – A Virginia judge heard arguments regarding $300 million allegedly owed by businesses owned by West Virginia Gov. Jim Justice’s family to a bank.
Chief Martinsville Circuit Judge Giles Carter Greer oversaw a 30-minute hearing December 11, listening to arguments from attorneys for both the Justice companies and Carter Bank & Trust.
The bank says the Justice companies have defaulted on slightly more than $300 million in loans. The Justice companies essentially are asking for more time, citing a recently filed $1 billion federal lawsuit accusing the bank of strong-arm tactics to prevent the companies from working with other lenders.
The bank filed court documents to collect the money in April after the loans came due, using confessed judgments based on personal guarantees signed by Gov. Justice, his wife Cathy and son Jay, who runs the family’s coal operations. The Justice companies asked the judge to set aside the confessed judgments.
Greer said he hoped to issue a written order in the matter as soon as possible, setting a target for sometime in January.
“I would hope to do so sooner and perhaps will be able to,” Greer said, according to a story on wvmetronews.com.