A in the West Virginia Daily News in Lewisburg reports The Greenbrier resort is up for auction again. But, according to a statement from a Greenbrier representative, that legal advertisement is Ƶmerely a procedural matter.Ƶ
A statement sent via email from Steve Ruby on behalf of The Greenbrier, reads, ƵƵ 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.
TodayƵs advertisement is merely a procedural matter. It in no way reflects any change in the partiesƵ relationship or The GreenbrierƵs plans regarding payment.Ƶ
The legal notice posted Thursday states the property will be auctioned at the Greenbrier County Courthouse at 2 p.m. on Oct. 25. Cash in hand is to be paid on the day of sale, according to the notice.
This is the second time in just under 10 weeks that the historic resort and hotel in White Sulphur Springs Ƶ owned by Gov. Jim Justice and his family Ƶ has been advertised as being on the auction block.
The latest public notice reported that there has been a default under the terms and conditions of a deed of trust that took effect in 2014, executed by the Justice family-controlled Greenbrier Hotel Corp.
The first auction was averted on Aug. 22, when JusticeƵs family reached an agreement with Beltway Capital to stop the sale of the familyƵs Greenbrier assets, including the historic Greenbrier Hotel, according to a news release issued on that day.
The news release stated: ƵUnder the agreement, Beltway Capital will receive a specific amount to be paid in full by Oct. 24, which Justice has already secured this funding. Beltway reserves its rights if the Justice family fails to perform. Upon full performance, all issues concerning The Greenbrier and Glade Springs are concluded.Ƶ
During his virtual media briefing Thursday, Justice addressed the legal advertisement, and took questions about The Greenbrier.
ƵI have told you over and over exactly what we would do, and that is exactly what weƵve done,Ƶ Justice said to reporters. ƵIƵve told you that itƵs not very fair. IƵve told you that itƵs political, 100%.Ƶ
The governor also said he ƵdidnƵt need to really disclose confidentialities in our business, but I have.Ƶ
Prior to those remarks in the briefing, the governor said two payments had been made on the total balance of $24 million, leaving an approximate balance of $22.3 million due on Oct. 24, Ƶand thatƵs what will be paid.Ƶ
He pointed out he told the media the public auction was not going to happen in August and the same would be true this month.
When asked to clarify the Ƶmerely a procedural matterƵ statement from Ruby, and if classification of the legal advertisement, which determines dates and the amount of run dates, was the reason it ran, Justice said, ƵIƵm not a lawyer but I think what is taking place, there are certain deadlines for advertising where they feel like they have to meet those deadlines of advertising, but it has nothing to do with us paying it off.Ƶ
Thursday is two weeks from when the Justices are due to make final payment to Beltway Capital to retain their properties.
In ThursdayƵs public notice, the trust deed listed Justice as the borrower of a $142 million promissory note dated March 2014, with New York-based JPMorgan Chase Bank listed as the beneficiary.
The 60.5-acre property slated for foreclosure is a key asset for the Justice family, whose financial woes have added up amid the governorƵs run for a U.S. Senate seat on the Republican ticket.
In June, the Justice family and a Virginia bank announced the settlement of a dispute in which the bank sought $300 million-plus in debt from the Justices. Both sides cited a Ƶpathway of curtailmentƵ in a planned payoff of the debt, with the bank, Virginia-based Carter Bank & Trust, reporting the Justices had paid just $7.8 million of a $301.9 million debt as of the end of the first quarter.
Request for comment was not returned from J. Patrick Jones, the substitute trustee listed on ThursdayƵs public notice.
This was first reported by Ƶ MetroNews.
Political reporter Beth Sergent contributed to this report.
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