Gov. Jim Justice confirms liability for $700 million in coal company loans

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FILE – In this Jan. 8, 2020, file photo, West Virginia Governor Jim Justice delivers his annual State of the State address in the House Chambers at the state capitol in Charleston, W.Va. An appeal is planned in rulings against coal companies owned by Justice in a lawsuit that accused them of defaulting on a mining contract. (AP Photo/Chris Jackson, File)

CHARLESTON, W.Va. (AP) – West Virginia Gov. Jim Justice has confirmed that he is personally liable for $700 million in loans taken by his coal companies. The loans were taken out from a lender in the United Kingdom that went bankrupt in March. Justice blamed the lender, Greensill Capital U.K., at a news conference on Tuesday.

The Republican governor’s coal company, Bluestone Resources Inc., sued the lender after it went under over allegations of fraud. Justice says the loans were acquired to rebuild Bluestone after a period of decline. The Roanoke, Virginia-based company is involved in mining metallurgical grade coal used for steel making.

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