According to a release from the McDowell County Sheriff’s Office, a $1.1 million back tax debt for Bluestone Coal Corporation has been paid in full. The payments from the Jim Justice Corporation have been made over the course of 2015.
Sheriff Martin West went to circuit court in 2014 against the Russian owners of the company and got a judgment of $1.1 million dollars owed to the county. An attorney was hired and the money was to be collected by an agreement that was drawn up by both parties.
On Feb. 17, 2015, Jim Justice bought Bluestone Coal back from Mechel OAO, the Russian company which owed the debt to McDowell County. Details on the purchase can be found in an article by The State Journal, and can be read HERE. The first payment of $780,323 was made on April 30, 2015. Subsequent payments were made as follows:
- $181,582 on June 30, 2015
- $41,437 on Oct. 13, 2015
- $166,000 on Oct. 14, 2015
The total amount paid was $1,169,934. The decision to payoff the debt by making payments was made in an out of court agreement between McDowell County chief tax Deputy, Shiela Woolridge, Sheriff Martin West and the Jim Justice Corporation.
“This will be a great blessing to the McDowell County Board of Education and the County Commission, as tax money helps make up their budget,” said Sheriff West. “I am happy that the Jim Justice corporation officials satisfied this agreement as promised.”