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U.S. Bankruptcy Judge Kevin
Huennekens dismissed The Greenbrier’s bankruptcy filing today. The
resort’s new owner Jim Justice and chief financial officer Mike McGovern
testified during the one-hour hearing before the United States Bankruptcy
Court for the Eastern District of Virginia in Richmond.
“This is a terrific outcome for everyone,” said Justice. “It’s a
win-win-win for everybody, for the employees, community, CSX, Marriott and
The Greenbrier. Now we can put this behind us and really start moving
forward with growing our business and restoring our fifth star to our
five-star bloodline.”
In his testimony, Justice assured Judge Huennekens that his company,
Justice Family Group, had the financial means to make the plan work. Both
Justice and McGovern testified that dismissing the case would be in the
best interest of employees, the community and creditors and that the
resort’s creditors would be paid in full immediately.
During the hearing, the resort’s attorneys proffered testimony of support
from Jeff Bryant, principal at Greenbrier East High School where Justice
has been the girls’ basketball coach since 2000. Attorneys for Marriott,
the Greenbrier Council of Labor Unions, a member of The Greenbrier
Sporting Club and an association that meets regularly at the resort were
present for the hearing and offered additional endorsements for the
dismissal. Justice also brought a stack of letters of support from
employees, Greenbrier County residents and elected officials.
The ruling dismisses the chapter 11 filing made on March 19, 2009. “Judge
Huennekens was very pleased to dismiss this case. He told us that
normally, bankruptcy cases do not have happy endings, but this one
certainly does,” continued Justice. “He thanked everyone involved for
their hard work and wished us good luck. This is a great day for all of us
and I am thrilled that we can put all of this behind us and work together
for a great future for this West Virginia treasure.”
For additional information, please contact:
Lynn Swann
Director of Public Relations
The Greenbrier
300 West Main Street
White Sulphur Springs, WV 24986
304-536-7857
cell 304-661-1130
fax 304-536-7893
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