The Greenbrier Resort
BECKLEY – The federal lawsuit regarding the now-completed $500 million refinancing deal for The Greenbrier resort officially is closed.
The docket entry for the end of the case appeared August 17. A related case in Greenbrier County also has been dismissed, and a new deed was filed for the resort.
On August 14, the family of U.S. Senator Jim Justice and Kennedy Lewis Investment Management announced the completion of a new joint venture they say will “enhance the long-term vision for The Greenbrier and provide the capital and expertise to strengthen and preserve America's Resort for its guests, both long-standing and new.”
Litigation focusing on the refinancing and receivership of the resort has been in the news for months. White Sulphur Springs Holdings, an affiliate of Omni Hotels, held liens on more than $300 million in debt accrued by the family of U.S. Senator Jim Justice related to the resort.
The closure of the refinancing deal had been delayed several times, and even had threatened operations of the resort’s casino.
Also Friday, the West Virginia Lottery told Greenbrier leadership it could continue casino operations – with caveats – while it reviews the financial transaction.
In that state case filed in Greenbrier Circuit Court, the owners of The Greenbrier claimed Carter Bank & Trust and the Texas-based holding company White Sulphur Springs Holdings’ owners Robert and Blake Rowling had colluded and improperly used insider information to gain control of The Greenbrier.
“This is a great day for The Greenbrier and all of West Virginia,” Justice said in a statement. “When our family stepped forward to save The Greenbrier in 2009, plenty of folks thought we had lost our minds. The resort was in bankruptcy, people had lost their jobs and many believed the glory days of America’s Resort were over. But we knew what The Greenbrier meant to West Virginia, and we knew it was worth fighting for.”
Justice said his family put “our own money, our hearts and our lives into The Greenbrier and into West Virginia.”
“We invested here, created jobs here, took risks here and fought like crazy to keep this treasure alive when it would have been a whole lot easier to walk away,” he said. “I’m incredibly proud of that record, and nobody can ever take it away.
“Our new partners bring tremendous experience and fresh ideas, while Jill and our family bring deep West Virginia roots and an understanding of the traditions and people that make this place so special. That is a powerful combination.
I truly believe The Greenbrier’s best days are still ahead, and Cathy and I could not be more excited about what comes next.”
