By JAKE ZUCKERMAN
Charleston Gazette-Mail
CHARLESTON, W.Va. — A whiskey barreling company’s $6 million loan application with a state agency, which had been given preliminary approval months ago, expired last week.
David Warner, director of the West Virginia Economic Development Authority, said Thursday that the loan application for the West Virginia Great Barrel Co. expired May 1 before being fully approved, and the company would have to restart the process to obtain any state funds. The EDA granted preliminary approval for the loan in October.
The Gazette-Mail reported in November that J. Philip Cornett, who was announced as the person who would run day-to-day operations for Great Barrel and was the point man on the EDA loan process, declared bankruptcy a few years ago, as did his restaurant company, Cornett Hospitality LLC. In bankruptcy court, Cornett was the subject of multiple fraud allegations, which were never proven in court.
Read the entire article: https://www.wvgazettemail.com/business/preliminary-approval-for-greenbrier-barrel-company-loan-expires/article_c511be59-3c1f-57f6-8738-d9fdfe45f2e8.html
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