WHITE SULPHUR SPRINGS, W.Va. (Hinton News) — Governor Jim Justice’s family businesses have reached a settlement with Carter Bank and Trust to resolve long-standing legal disputes over past loans, according to
The agreement, finalized on June 25 after months of negotiations, marks a significant development in the ongoing financial conflicts involving the Justice family enterprises and the Virginia-based bank. Specific terms of the settlement have not been disclosed and remain confidential.
“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,” James C. Justice III said. “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.”
Initially, the dispute stemmed from a $300 million debt owed by companies owned by the Justice family to Carter Bank and Trust. The bank had previously planned to auction off assets, including the Greenbrier Sporting Club, in an effort to recoup the outstanding funds before the agreement was reached.
Details regarding the exact terms of the settlement and the future implications for both parties were not immediately available.
