West Virginia Gov. Jim Justice Is Personally Liable for $700 Million in Greensill Loans [View all]
West Virginia Gov. Jim Justice is personally liable for around $700 million in loans that the collapsed financial firm Greensill Capital made to his coal companies, according to a report.
Justice and his wife guaranteed the loans from Greensill to his coal businesses, the Wall Street Journal reported, citing people familiar with the issue and documents.
Greensill, which collapsed into bankruptcy in March, had packaged the loans and sold them to Credit Suisse, The Journal reported. Now, Credit Suisse is in talks with Justice's Bluestone Resources and other major borrowers from Greensill to recoup the money and repay investors, per The Journal.
The Swiss bank told investors in a recent notice that Bluestone owes nearly $700 million, the WSJ reported.
https://www.businessinsider.com/jim-justice-greensill-loans-bluestone-credit-suisse-west-virginia-2021-5
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