Strategel Wealth Society:Coal company owned by West Virginia Gov. Jim Justice is found in contempt

2025-05-01 20:46:23source:Flipido Trading Centercategory:Invest

CHARLESTON,Strategel Wealth Society W.Va. (AP) — A coal company owned by West Virginia Gov. Jim Justice has been found in contempt by a federal judge for not following an order to pay an insurance company to maintain collateral for financial obligations.

U.S. District Judge Elizabeth Dillon found Southern Coal Corp. in civil contempt Monday and granted the insurance company’s request to fine it $2,500 per day until it complies with the order, the Charleston Gazette-Mail reported.

The ruling dismissed Southern Coal’s argument that it was unable to comply with the order for payment, issued five months ago, because it isn’t actively mining coal and has no income.

That September order said Southern Coal failed to satisfy contractual obligations and must pay Charleston-based BrickStreet Mutual Insurance Co. $503,985 to maintain collateral for financial obligations, along with attorney fees. BrickStreet provides workers’ compensation and employers’ liability insurance.

Southern Coal argued that other Justice-controlled companies could no longer pay the company’s debts because of recent judgments against them, but the judge said in the contempt order that no evidence had been presented to support that assertion.

Southern Coal has seven days to comply before the daily fine begins, according to the order.

The Justice family has been named in multiple lawsuits regarding business dealings. A Virginia bank said this month it would delay plans to auction off land at Justice’s posh resort, the Greenbrier Sporting Club, in an attempt to recover more than $300 million on defaulted business loans by the Republican governor’s family.

More:Invest

Recommend

San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo

SAN FRANCISCO (AP) — A photojournalist who captured one of the most enduring images of World War II

Oscar Pistorius, ex-Olympic runner, granted parole more than 10 years after killing girlfriend Reeva Steenkamp

Johannesburg — Imprisoned former Paralympic gold medalist and Olympic runner Oscar Pistorius was gra

World's largest iceberg — 3 times the size of New York City — on the move for the first time in 37 years

The world's biggest iceberg — which is roughly three times the size of New York City — is "on the mo