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West Virginia Governor Justice, companies on verge of settling with major creditor

By Steven Allen Adams, The Parkersburg News and Sentinel

CHARLESTON, W.Va. — A deal could be imminent between companies owned by Gov. Jim Justice and a major Swiss creditor after the governor was on the hook for nearly $700 million in personal loan guarantees.

Judge Jesse Furman of the U.S. District Court for the Southern District of New York granted a request Tuesday by attorneys representing the defunct finance firm Greensill Capital and Justice-owned Bluestone Resources Inc. for a 45-day extension of a stay issued by the court last September while the two parties negotiate a settlement. Bluestone Resources brought suit against Greensill in March 2021.

“… Discussions between and among various parties in interest to this action as to a potential resolution of this action have substantially progressed since the parties’ last joint extension request, and the requested extension of the stay would allow for those constructive discussions to continue,” the attorneys wrote in their letter to Furman…

To read more: https://www.newsandsentinel.com/news/local-news/2022/05/gov-justice-companies-on-verge-of-settling-with-major-creditor/

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