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A proposal for the sale of a helicopter surrendered by one of Gov. Jim Justice's coal companies amid debt stemming from a $13 million federal court judgment has been proposed. India-based B G Shirke Construction Technology Pvt., is poised to buy the chopper for $1.4 million.
1st Source Bank, a bank suing one of Gov. Jim Justice's coal companies, Bluestone Resources Inc., for over $4.5 million in what it says are unpaid loans has revealed what properties it's looking to take that it says is collateral securing the loans. The property consists of Caterpillar and Ford construction vehicles and equipment.
One of Gov. Jim Justice's coal companies has been sued by an Indiana bank seeking over $4.5 million and personal property from the company. The bank, 1st Source Bank, says Bluestone Resources Inc. has failed to pay millions in loans.
Sale and surrender terms have been proposed in the U.S. District Court for the Western District of Virginia for a helicopter that has belonged to one of Gov. Jim Justice's coal companies. The company, Bluestone Resources Inc., didn't participate in the sale proposal process, according to a joint court filing submitted by the other parties in the case, Caroleng Investments Limited and 1st Source Bank. Caroleng says Bluestone has failed to pay a $13 million judgment against Bluestone in its favor in 2021 and has been trying to seize the helicopter in response.
A Virginia federal court has set up seizure of a helicopter belonging to one of Gov. Jim Justice's coal companies, Bluestone Resources Inc., to enforce a $13 million judgment against the firm awarded to British Virgin Islands-based Caroleng Investments Limited. District Judge Robert Ballou provides a week for a joint proposal for sale of the 2009 Bell helicopter.