Tag: Debt

Federal Court Orders Justice-Owned Companies To Pay $8.5 Million

The U.S. District Court for the Western District of Virginia has enforced a state court decision last year to award Western Surety more than $8.5 million, plus interest.

A federal court has placed liens on several companies owned by Gov. Jim Justice to satisfy a previous state court-ordered judgment.

The U.S. District Court for the Western District of Virginia has enforced a state court decision last year to award Western Surety more than $8.5 million, plus interest.

The federal court placed charging orders, or liens, on Justice Coal of Kentucky, Justice Coal of West Virginia, Justice Management Services, Chestnut Land Holdings, Dublin Land, Twin Fir Estates and Justice Family Farms.

The judgment in favor of Western Surety was issued by the Circuit Court for Fairfax County, Virginia, in September. The award comes with post-judgment interest of 6 percent per annum.

In a separate case in the Western District of Virginia, Western Surety seeks another $3 million from Justice, Bluestone Resources and Southern Coal, alleging breach of contract.

Justice, a Republican candidate for the U.S. Senate, faces numerous legal challenges.

Another bond provider, Federal Insurance Co., sued Justice and four of his companies in June in the U.S. District Court for the Southern District of New York, seeking $8.1 million in damages.

Last month, a $1.2 million helicopter was seized from Bluestone Resources to partially satisfy a debt owed to a Caribbean investment firm.

In February, 1st Source Bank, of South Bend, Indiana, sued Bluestone in the Virginia court, charging breach of contract and seeking $4.5 million in damages.

The complaint accuses Bluestone of defaulting on loan agreements and also seeks attorney’s fees and possession of collateral.

According to the complaint, that collateral consists of “equipment owned by Bluestone Coal” and three properties that are part of the Wintergreen Ski Resort near Charlottesville, Virginia.

Justice Coal Company Ordered To Surrender Helicopter In 72 Hours

The sale of the 2009 Bell helicopter, valued at $1.5 million, would help to partially settle a $10 million debt Bluestone Resources owes to a Caribbean investment firm.

A federal judge in Virginia has ordered one of Gov. Jim Justice’s coal companies to surrender a helicopter to a third party in Texas.

The sale of the 2009 Bell helicopter, valued at $1.5 million, would help to partially settle a $10 million debt Bluestone Resources owes to a Caribbean investment firm.

In his Friday order, Judge Robert S. Ballou of the U.S. District Court for the Western District of Virginia, gave Bluestone 72 hours to turn over the helicopter to Heli-X of Colleyville, Texas.

If Bluestone fails to do so, U.S. Marshals would seize the helicopter.

Bluestone, based in Roanoke, Virginia, is one of numerous companies owned by the Justice family that owe vast sums of money to their creditors.

There are multiple cases involving Justice’s companies in the Western District of Virginia.

Last month, 1st Source Bank, of South Bend, Indiana, sued Bluestone in the court, charging breach of contract and seeking $4.5 million in damages.

The complaint accuses Bluestone of defaulting on loan agreements and also seeks attorney’s fees and possession of collateral.

According to the complaint, that collateral consists of “equipment owned by Bluestone Coal” and three properties that are part of the Wintergreen Ski Resort near Charlottesville, Virginia.

Another federal judge in Roanoke late last month held Southern Coal in civil contempt. That Justice company failed to reimburse a Charleston insurance company for more than $500,000 in workers’ compensation payments.

Judge Elizabeth Dillon gave Southern Coal seven days to repay BrickStreet Mutual Insurance. After that, the court will impose a $2,500 daily penalty on Southern Coal until it complies.

Justice is a Republican candidate for the U.S. Senate.

Justice Creditors Agree To Sale Of Coal Company’s Helicopter

Caroleng Investments, a Caribbean company, and First Source Bank, of South Bend, Indiana, have submitted a joint proposal to sell a helicopter owned by Bluestone Resources.

Two of Gov. Jim Justice’s creditors have agreed to sell a helicopter to help settle a debt.

Caroleng Investments, a Caribbean company, and First Source Bank, of South Bend, Indiana, have submitted a joint proposal to sell a helicopter owned by Bluestone Resources.

Bluestone, which is one of Justice’s numerous companies, did not participate in the agreement, filed Friday in the U.S. District Court for the Western District of Virginia.

Bluestone owes Caroleng about $10 million and sought the helicopter as a partial repayment.

Bluestone and First Source tried unsuccessfully to convince a federal judge to stay an order for U.S. Marshals to seize the helicopter on Caroleng’s behalf.

The agreement directs Bluestone to surrender the 2009 Bell helicopter to a third party, Heli-X, of Colleyville, Texas, within 72 hours of the court’s issuance of an initial sale order.

A judge will have to approve the agreement.

Creditor Asks Court To Force Justice Company To Turn Over Helicopter

Caroleng wants Bluestone Resources, based in Roanoke, to give up a helicopter it owns. Bluestone owes Caroleng $13 million and seeks the helicopter to partly settle the debt.

A creditor of a coal company owned by the family of Gov. Jim Justice is still trying to seize a helicopter.

Caroleng Investments, an offshore company based in the British Virgin Islands, has gone back to the U.S. District Court for the Western District of Virginia.

Caroleng wants Bluestone Resources, based in Roanoke, to give up a helicopter it owns. Bluestone owes Caroleng $13 million and seeks the helicopter to partly settle the debt.

In a series of court filings last month, Bluestone claimed that another creditor, 1st Source Bank of South Bend, Indiana, had a superior claim on the helicopter.

A judge stayed a prior order for U.S. Marshals to seize the helicopter, which is usually stationed in Roanoke but had been moved to Burlington, North Carolina.

Caroleng asked the court to lift the stay and direct the U.S. Marshals to follow the original order.

Federal Judge Blocks Seizure Of Justice Coal Company Helicopter

Judge James P. Jones of the U.S. District Court for the Western District of Virginia, granted a stay on Thursday sought by the coal company, Bluestone Resources, and 1st Source Bank of South Bend, Indiana, one of Bluestone’s creditors.

A federal judge in Virginia has blocked the seizure of a helicopter from a coal company owned by Gov. Jim Justice. 

Judge James P. Jones of the U.S. District Court for the Western District of Virginia granted a stay on Thursday sought by the coal company, Bluestone Resources, and 1st Source Bank of South Bend, Indiana, one of Bluestone’s creditors.

Another Bluestone creditor, Caroleng Investments of the British Virgin Islands, had sought to take possession of the helicopter to settle part of a $13 million debt owed by Bluestone.

Last week, the court ordered the U.S. Marshals to seize the helicopter, which has an estimated value of $1.2 million, according to a Wednesday filing by 1st Source.

The helicopter was housed in Roanoke, Virginia, until late last week, when it was moved to Burlington, North Carolina, according to publicly available flight data.

Caroleng accused Bluestone of hiding the helicopter to avoid paying what it owes.

Bluestone said 1st Source was first in line to get paid in the event the helicopter was sold.

Caroleng said Bluestone couldn’t intervene on behalf of 1st Source, but the bank joined Bluestone’s motion for a stay on Wednesday to protect its interest in the helicopter.

In his order Thursday, Jones froze any transfer of the helicopter or any effort to conceal its location until the court could resolve the dispute.

Jones has scheduled a hearing in the case on Nov. 16 in Abingdon, Virginia.

Justice-Owned Company Tries In Court To Stop Seizure Of Helicopter

On Thursday, the court instructed the marshals to take possession of the helicopter, which is housed at the Roanoke-Blacksburg Regional Airport.

A coal company owned by Gov. Jim Justice is trying to stop an offshore company controlled by a Russian oligarch from seizing a helicopter it owns.

Bluestone Resources filed a stay in the U.S. District Court for the Western District of Virginia on Friday. It seeks to prevent the U.S. Marshals from seizing a 2009 Bell helicopter.

On Thursday, the court instructed the marshals to take possession of the helicopter, which is housed at the Roanoke-Blacksburg Regional Airport.

Caroleng Investments, based in the British Virgin Islands, sought the helicopter to recover part of the more than $10 million Bluestone owes it.

In Friday’s filing, however, Bluestone’s attorneys say the helicopter is subject to two security interests that are superior to Caroleng’s lien and secure indebtedness in excess of the helicopter’s value. Those creditors, 1st Source Bank, based in South Bend, Indiana, and Greensill Capital, based in the United Kingdom, would be paid first, not Caroleng, the filing says.

The filing also identifies Caroleng as a holding company controlled by a Russian mining and metals oligarch named Igor Zyuzin.

West Virginia Public Broadcasting reached out to the governor’s office for comment.

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