By Steven Allen Adams, The Parkersburg News and Sentinel
CHARLESTON, W.Va. — If a major overseas creditor accepts, Gov. Jim Justice could get out of more than $850 million in debt, including $700 million in loans he personally guaranteed.
According to the Wall Street Journal on Monday, Justice-owned Bluestone Resources has made an offer with Swiss-based Credit Suisse Group to settle past loans to the now-defunct Greensill Capital.
Wall Street Journal Reporter Julie Steinberg wrote representatives of Bluestone offered Credit Suisse $300 million by refinancing the existing loans through a third-party lender. The company also offered Credit Suisse half of any proceeds from the future sale or initial public offering of Bluestone, the umbrella corporation for a majority of Justice’s businesses, including coal companies.
Speaking Monday during his COVID-19 briefing, Justice said he had not seen the Wall Street Journal story, but said the description of the reporting was “accurate.” …
To read more: https://www.newsandsentinel.com/news/business/2021/09/justices-companies-make-tentative-deal-over-850m-debt/