By Charles Boothe, Bluefield Daily Telegraph
CHARLESTON, W.Va. — A Securities Act form filed by Carter Bank & Trust related to a civil action against the company includes “errors and omissions,” according the plaintiff, Justice Entities.
West Virginia Gov. Jim Justice, his companies and family members comprise Justice Entities, which filed the civil action recently seeking $421 million in damages related to financing arrangements of outstanding loans involving Carter Bank.
The complaint, filed in May in U.S. District Court Southern District of West Virginia at Beckley, alleges Carter Bank defendants participated in conduct … “violating anti-competitive behavior statute, breach of contract and in particular the covenant of good faith and fair dealing, and breach of fiduciary duties and aiding and abetting breach of fiduciary duties relating to financing arrangements between Plaintiffs and Defendants.”
A declaratory judgment is also being sought relating to loan modifications in 2017 made by Carter Bank that, the plaintiffs allege, are “unenforceable” and puts the defendants in a position that they “are not entitled to take any action to realize upon such loans (or collateral therefore or guarantees thereof) as may become due and payable without providing Plaintiffs a good faith opportunity to repay those loans.” …
To read more: https://www.bdtonline.com/news/justice-companies-form-filed-by-bank-contains-errors-and-omissions/article_1f334cde-cd77-11eb-81ea-e744f5398381.html