Justice family reaches agreement to stop sale of Greenbrier Hotel • West Virginia Watch

According to a statement released Thursday by a Greenbrier spokesman, the Greenbrier Hotel will not be auctioned off publicly next week.

The auction — the came about because of the Greenbrier Hotel Corporation, which is owned by Governor Jim Justice and his family, defaulting on millions in loans – was scheduled for Tuesday at 2 p.m. in the Greenbrier County Courthouse. A hearing scheduled for Friday regarding a temporary restraining order from the judges to stop the auction was not only canceled, but also the auction, according to court documents.

The Justice family reached a settlement Thursday with Beltway Capital, which is associated with debt collection firm McCormick 101, which purchased the loan documents and deed of trust for the hotel from JPMorgan earlier this year, according to a statement from Cam Huffman, public relations director for The Greenbrier.

Under that agreement, the family will make a payment to Beltway Capital by Oct. 24. The Greenbrier Hotel Corporation owes about $9.4 million on the loan, according to previous statements. Thursday’s statement did not specify how much money would be paid to Beltway Capital.

It was also not said how the Justice company got the money to be paid. It was only said that the family had “already secured this financing”.

Once the payment is made, the statement said, “all matters relating to The Greenbrier and Glade Springs will be resolved.”

This is an evolving story.