A judge has ordered that Uncle Nearest remains under court-appointed receivership, quashing attempts by the company’s co-founders to regain control of the business.
The news marks another step forward in an ongoing legal dispute between the group and its lender Farm Credit Mid-America, which last year filed a complaint in Tennessee alleging default on loans and the misreporting of barrel counts
A court in the US state accepted a request from the US agri lender to appoint a receiver for the whiskey business in August. In January, Fawn and Kevin Weaver, the co-founders of Uncle Nearest, reportedly filed a motion calling for an emergency hearing to reconsider the receivership of the business. In March, Uncle Nearest also moved for bankruptcy protection and sued US agri-lender Farm Credit Mid-America.
That was dismissed following an expedited hearing. In an order filed on Tuesday (26 May), shared by the Moore County Observer, district judge Charles E. Atchley Jr. denied a motion from Fawn and Kevin Weaver and holding company Grant Sidney that had looked to end receivership over Uncle Nearest, Inc., Nearest Green Distillery, Inc., and Uncle Nearest Real Estate Holdings, LLC.