West Virginia Gov. Jim Justice is personally on the hook for almost $700 million in loans his coal companies removed from now-defunct Greensill Capital, with the loans and documents expressed to The Wall Street Journal.Mr. Justiceâs personal guarantee of the loans, which hasnât been reported, puts economic pressure on the popular Republican governor. He is also dealing with unconnected lawsuits alleging parts of his sprawling network of coal companies breached payment contracts or failed to deliver coal.Greensill packaged the loans and sold them to investment funds maintained by Credit Suisse Group AG. Credit Suisse and Greensill ran $10 billion in supply-chain finance funds that expanded financing to a range of borrowers. The Swiss bank stopped the investment funds in March and is in talks with Mr. Justiceâs Bluestone Resources Inc. and other borrowers to recoup money to make investors whole. Credit Suisse is under pressure to recover money fast and has called Bluestone one of the three large borrowers from the Greensill funds that it has identified in its recovery efforts.
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