Justice family companies offer $300 million, half of Bluestone value to repay Swiss loans

[TexasTowelie]

Gov. Jim Justice confirmed Monday that his family’s coal company had offered Credit Suisse $300 million, and half of the value of the Justices’ coal companies, to settle about $740 million in outstanding loans with the company.

Justice had not read a Wall Street Journal report about the proposal, but he said the details of the report sounded “pretty accurate,” when asked about the report during his thrice weekly COVID-19 briefing Monday morning.

Executives for the Justice family’s companies have been in talks with the Switzerland-based Credit Suisse at least since May, after the downfall of U.K.-based Greensill Capital, which loaned the Justice family companies $850 million in May 2018.

Justice said Monday his family’s businesses are doing well and that representatives with Credit Suisse and Justice’s Bluestone Resources were “working along really, really well.”

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