Black-Owned Whiskey Giant Uncle Nearest Faces $100M Court Battle

Just months after accolades recognized Uncle Nearest Premium Whiskey as one of the most successful Black- and woman-owned spirits brands, it faces a tumultuous legal and financial crisis. Farm Credit Mid-America, PCA, has initiated a federal lawsuit against the Shelbyville, Tennessee distillery, alleging default on over $100 million in loans, as reported by Tullahoma News.The suit, filed in the U.S. District Court for the Eastern Division of Tennessee on July 28, targets Uncle Nearest Inc. and its co-founders, Fawn and Keith Weaver. The lender seeks a court-appointed receiver to manage the company's assets, indicating potential loss or harm to collateral without immediate intervention.Allegations specify Uncle Nearest’s failure to meet loan obligations, including principal and interest payments. Claims also assert funds were improperly used to buy a $2 million property on Martha's Vineyard. Both co-founders firmly reject the lawsuit's accusations, asserting inaccuracies related to financial status. (Photo: Uncle Nearest Website)