secwatch.observer — SEC 8-K summary
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Issuer:     Carter Bankshares, Inc. (CARE)
CIK:        0001829576
Form:       8-K
Filed at:   2024-01-25T23:59:59+00:00
Accession:  0001829576-24-000007
Event type: litigation
Sentiment:  positive
Materiality: 0.75
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Carter Bankshares wins court ruling allowing collection of $302M from Justice entities
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- Circuit Court denied Justice Entities' motions to set aside confessions of judgment in 21 civil cases.
- Total principal debt owed is approximately $301.9 million, plus interest, charges, fees, and costs.
- Carter Bank expects court orders finalizing confessions of judgment and will pursue aggressive collection.
- All claims are backed by personal guarantees from Governor Justice and his wife; many also from James C. Justice III.
- This proceeding is separate from a federal lawsuit filed by Justice Entities in November 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1829576/000182957624000007/0001829576-24-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1829576/000182957624000007/care-20240125.htm
  HTML page:      https://secwatch.observer/filing/0001829576-24-000007

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