Justice Family May Cede Control of The Greenbrier to Resolve $300M Debt
The refinancing would pay major creditors and fund resort improvements, while the casino shutdown is expected to lay off about 90 workers, attorneys said.
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Justice family may cede control of The Greenbrier to resolve $300M debt
Documents submitted to the West Virginia Lottery Commission show the deal would create a new company — jointly owned by the Justices and New York-based Kennedy Lewis Investment Management — that would hold 51% ownership of the White Sulphur Springs resort, according to lottery commission acting director David Bradley.
Justice family to share ownership of The Greenbrier • West Virginia Watch
The family of U.S. Sen. Jim Justice and Kennedy Lewis Investment Management announced on Friday that the two had agreed to a joint venture for The Greenbrier resort, located in White Sulphur Springs, West Virginia. (Photo by Chris Jackson /West Virginia Watch)A New York-based investment firm will now have controlling ownership in The Greenbrier, one of West Virginia’s top tourist attractions, company officials announced Friday. The family of U.…
Justices complete half-billion dollar joint venture on The Greenbrier
The deal represents a joint venture with the New York financial firm Kennedy Lewis Investment Management and puts to rest, at least temporarily, a long saga of debt related to the hotel. The post Justices complete half-billion dollar joint venture on The Greenbrier appeared first on WV MetroNews.
Jobs cut as Greenbrier sacrifices casino to secure financing
CHARLESTON – The family of U.S. Sen. Jim Justice told a federal judge that in order to secure its deal with a New York financier to satisfy debts owed to a Texas-based hotel company, it will shutter the Greenbrier’s popular casino temporarily as the deal awaits approval from state gaming regulators. Attorneys for the Justice […]
The Herald-Dispatch
Charleston Gazette-MailJustices say they'll shutter Greenbrier casino, lay off 90 people for refinancing deal
United States Sen. Jim Justice, R-W.Va., and his family have told a federal court they will shutter the Greenbrier’s casino to expedite closure of a deal to stave off a court-ordered takeover of the rest of their Greenbrier business empire. In a late-night U.S. Court for the Southern District of West Virginia filing on Aug. 12, 2016, the Justices said “the Greenbrier has reluctantly decided that it will shut down its casino” due to what they cal…
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