Settlement between Justice family, Carter bank reached

WHITE SULPHUR SPRINGS, WV (WOAY) – A settlement has been reached between companies owned by the family of Governor Jim Justice and Virginia-based Carter Bank and Trust.

Carter Bank brought legal action in an attempt to recoup $300 million in defaulted business loans and began preparing to auction off portions of the Greenbrier Sporting Club. The Justice family responded by suing Carter Bank.

With today’s settlement, that sale will no longer happen, and both Carter Bank and the Justice family say that the loans will be paid off.

Governor Justice has consistently said that his family businesses are managed by his family while he focuses on his duties as Governor.

The Governor’s son, Jay Justice, released a statement on behalf of the family. He said that the family is glad to move on.

“We are glad to have reached an agreement that puts these matters behind us. We appreciate the effort that Litz Van Dyke and his team put into negotiating this resolution. Our family has valued our decades-long relationship with Carter Bank dating back to my dad’s long-standing personal relationship with Worth Carter, the Bank’s visionary founder, and longtime chairman. Our family is committed to satisfying our outstanding obligations to Carter Bank and fulfilling our commitments under the terms of the agreement reached with Carter Bank. We look forward to focusing our attention on these efforts and believe that this resolution will ensure that The Greenbrier remains a part of the Justice family’s holdings for generations to come,” the statement reads.

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