Tax Liens Withdrawn After Greenbrier Refinancing with Kennedy Lewis
In mid-August 2026, The Greenbrier resort finalized a significant $500 million refinancing deal with Kennedy Lewis Investment Management. This financial maneuver not only addressed substantial debts but also led to the withdrawal of federal and West Virginia tax liens that had been placed on the property. The transaction was crucial for retiring approximately $300 million in tax-lien debt and allocating another $200 million for necessary resort upgrades.
The West Virginia Lottery approved the change in ownership, ensuring that casino operations could continue smoothly during the transition period. The withdrawal of the tax liens occurred directly after the financial closing, indicating a direct link to the payoff of these outstanding liabilities rather than a separate court order.
Federal and State Filings Accumulated Before Refinancing
Leading up to the refinancing, several tax filings were recorded against the owners of The Greenbrier Hotel and its associated clinic. On August 10, 2026, the Internal Revenue Service (IRS) filed over $8 million in payroll tax liens. These liens were primarily for two tax periods: $4.92 million for the period ending December 31, 2025, and $3.08 million for the period ending March 31, 2026. Additionally, the Greenbrier Clinic faced a separate lien of $827,000 on the same day. Earlier filings in July 2026 had already amounted to about $3.5 million in federal taxes.
| Tax Authority and Filing Period | Entity or Tax Category | Amount |
|---|---|---|
| IRS, August 10, 2026 | Greenbrier Hotel owners, period ending December 31, 2025 | $4.92 million |
| IRS, August 10, 2026 | Greenbrier Hotel owners, period ending March 31, 2026 | $3.08 million |
| IRS, August 10, 2026 | Greenbrier Clinic | $827,000 |
| IRS, July 2026 | Greenbrier Hotel and clinic filings | About $3.5 million |
| West Virginia State Tax Division, June 2026 | Consumer sales and use taxes | About $3.9 million |
| West Virginia State Tax Division, June 2026 | State payroll-related taxes | Roughly $455,000 |
In addition to federal filings, state records from June 2026 showed approximately $4.4 million in liabilities. The Greenbrier Hotel Corporation was responsible for about $3.9 million in consumer sales and use taxes, along with roughly $455,000 in state payroll-related taxes. These filings represent the recorded debts before the refinancing deal was completed.
Transaction Shifted Control and Funded Debts
The refinancing deal was pursued by the Justice family ownership group with Kennedy Lewis Investment Management, a New York-based firm specializing in distressed debt. The agreement not only settled tax liabilities but also paid off other secured debts, resolved litigation with creditors, and provided funds for capital improvements at the historic resort. With the transaction, control of the resort shifted to Kennedy Lewis, which became the majority owner.
The West Virginia Lottery’s approval of the ownership change, which named Nathan Lloyd as chairman of The Greenbrier Resort and Casino, followed the financial closing. This allowed casino operations to continue without interruption during the ownership transition. The change in ownership structure was directly tied to the debt payoff, with no separate court decisions cited as the reason for the lien withdrawals.
Separate Lawsuit Concluded After Settlement
A related county court lawsuit was resolved independently of the refinancing. U.S. District Judge Frank Volk had given the Justice family a deadline to secure financing, with further hearings scheduled if the deal fell through. However, a separate Greenbrier Circuit Court case was dismissed after the involved parties reached a full settlement. This agreement covered all claims, both those already made and those that could have been brought forward. The dismissal of this lawsuit was a result of the parties’ agreement and is not directly linked to the withdrawal of the tax liens, which were tied to the completed financing and debt payoff.
Officials Viewed Closing as Debt Payoff and Reset
Steve Ruby, the attorney for the Justice family, informed lottery officials that the resort had partnered with a new entity that “paid off a very significant amount of debt.” He also confirmed that all Greenbrier liabilities were disclosed in financial statements provided in June 2026 and stated that they were not aware of any other outstanding debts to state or federal governments. West Virginia Governor Patrick Morrisey expressed optimism that the new ownership would bring “much-needed financial stability to the iconic Greenbrier resort.” The transfer of control placed Nathan Lloyd in the chairman’s role, and tax records confirmed the withdrawal of federal and state liens following the August closing.
Frequently Asked Questions
What was the total amount of the refinancing deal for The Greenbrier?
The Greenbrier resort finalized a $500 million refinancing deal with Kennedy Lewis Investment Management.
Why were the tax liens withdrawn?
The tax liens were withdrawn because the refinancing deal paid off the outstanding tax liabilities.
Who is the new majority owner of The Greenbrier?
Kennedy Lewis Investment Management became the majority owner after the refinancing deal.
Was the casino operation affected by the ownership change?
No, the West Virginia Lottery approved the ownership change, allowing casino operations to continue smoothly.
Conversation
0 Comments