CHARLESTON, W.Va. – West Virginia Gov. Jim Justice confirmed on Tuesday that he is personally liable for $700 million in loans taken by his coal companies from a lender in the United Kingdom that went bankrupt.

The Republican governor took shots at the bankrupt Greensill Capital U.K. and said “it is a burden on our family beyond belief.” The Wall Street Journal first reported Justice’s debt on Monday.

Justice’s businesses face several other woes, including penalties totaling $3.2 million from the federal government and lawsuits over claims his companies failed to deliver coal.

Greensill sold the loans to investment funds managed by Credit…

Read full article at energy.economictimes.indiatimes.com

Share.

Comments are closed.