Business Dispute Between West Virginia Governor Jim Justice and Carter Bank & Trust: Lawsuit Alleges False Claims and Financial Dispute

The ongoing legal battle between West Virginia Gov. Jim Justice and Carter Bank & Trust has taken a new turn with a federal lawsuit filed by GLAS Trust Co. seeking to recoup $226.2 million in loans to the Justice family-owned Bluestone Resources. The lawsuit alleges that Carter Bank pressured the Justice family to repay debts, leading to payments made by Bluestone to satisfy these obligations.

The relationship between the Justices and Carter Bank turned sour following the death of the bank’s founder in 2017. Despite a longstanding business relationship, the two parties found themselves at odds over the repayment of loans totaling $368 million. Carter Bank refutes the claims made in the lawsuit, stating that it received repayments in good faith and was not involved in the financing arrangement between the Justices and Greensill UK.

The Justices had planned to settle their debts with Carter Bank in 2023, but the bank allegedly blocked their efforts in an attempt to continue extracting interest payments. The Justice family’s plan included the sale or refinancing of assets to retire the remaining loans within four months.

As the legal battle continues to unfold, it remains to be seen how the dispute will be resolved and what implications it may have for Gov. Jim Justice’s political aspirations. Stay tuned for updates on this developing story.