Gov JimJusticeWV is facing increased scrutiny over his substantial debt and allegations of stiffing employees, creditors, and others after throwing his hat in the ring to challenge Sen_JoeManchin for his coveted seat next year.
Justice is the Democrat-turned-Republican governor of West Virginia who boasts impressively high approval ratings. Being term-limited, Justice had mulled his political future for months before deciding to officially launch a bid to unseat Manchin late last month. The governor's family business owns an empire of coal mines, processing facilities, agricultural companies, and the landmark Greenbrier Resort in his home state, where he made his 2024 announcement.
Making matters more difficult for Justice is the $850 million in personally-backed loans he and his children took out from Greensill Capital, which collapsed in early 2021. Justice and his children, whom he handed control of the family companies over to upon taking office as governor, have been in dispute with Credit Suisse Group AG, Grensill's main financing partner, over paying back the sum since the firm went under.
Justice has said he turned to Greensill for help with rebuilding the company and described the debt in June of 2021 as"a burden on our family beyond belief, and we’ll have to deal with it. It’s tough. It is really tough." Steve Ruby, a lawyer for the Justices' businesses, told the Wall Street Journal in March that the family was working on selling Bluestone once again to make creditors whole and eliminate a large amount of the debt. He said the Justices had retained Perella Weinberg Partners, the financial services firm, to advise on selling the family's coal operations.
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