Fawn Weaver Loses Control of $1B Uncle Nearest Whiskey Brand in Court Ruling

A federal judge has ruled that Nearest Green Distillery, the Tennessee-based whiskey producer known for the rapidly growing Uncle Nearest brand, will enter receivership due to defaulting on over $100 million in loans. This decision strips co-founders Fawn and Keith Weaver of operational authority, casting uncertainty over the future of this celebrated independent spirits company.The legal battle began with a lawsuit from Farm Credit Mid-America, the main creditor, claiming that the distillery breached financial agreements, mismanaged loan funds, and inflated barrel inventory reports. Farm Credit contended that these actions jeopardized the security of its loans.The Weavers defended themselves, attributing these discrepancies to fraudulent activities by their former CFO, Mike Senzaki, who is currently under investigation. Despite their claims, Judge Charles E. Atchley found that appointing a receiver was essential for asset protection. The case has highlighted significant financial troubles, including a troubling $24 million discrepancy in barrel inventory.

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