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Judge Dismisses Uncle Nearest Bankruptcy Filing, Citing Lack of ...

On March 19, U.S. Bankruptcy Judge Suzanne Bauknight ruled that Fawn Weaver, founder and sidelined CEO of Uncle Nearest, was not authorized to file bankruptcy petitions for the Tennessee whiskey company.
Under the court receivership, receiver Phillip Young was vested with authority, divesting the Weavers of control over Uncle Nearest amid the lawsuit over more than $100 million in unpaid debt.
The petition shows $13,355,441.76 is spread among 264 creditors, contrasting with Young's reported $99 million debt.
Judge Bauknight ruled the bankruptcy move exceeded Weaver's authority, saying she violated U.S. District Judge Charles Atchley Jr.'s receivership order and Justin Campbell called it a 'Hail Mary' attempt, asking for $75,000 sanctions.
Earlier this month Weaver sued Farm Credit Mid-America on March 13, and attorney Kelli Holmes said the bankruptcy aimed to stabilize company value and sales amid disputed $21 million missing barrels and $20 million commingled transfers.

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Uncle Nearest whiskey bankruptcy claim dismissed as court says co-founder lacks authority to file after $108M lawsuit

Months after Tennessee whiskey brand Uncle Nearest was hit with a $108 million lawsuit for an alleged breach of loan agreements, a court has dismissed the CEO and co-founder’s attempt to file for bankruptcy, saying she lacks the authority to do so.

2 days ago·Nashville, United States

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Founder's 'Hail Mary' Attempt to Reclaim $1B Whiskey Empire Blocked by a Judge

A federal judge has blocked Fawn Weaver’s "unauthorized" bankruptcy filing for Uncle Nearest, ruling it a violation of a previous court order. Here is the latest on the $100 million legal battle over the $1.1 billion whiskey empire.

2 days ago

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