CHATTANOOGA, Tenn. — Two new filings were entered Tuesday in the federal receivership case involving Uncle Nearest, Inc., as the court-appointed receiver asked to keep portions of the proceedings confidential and to slightly adjust upcoming reporting deadlines.
In the first filing, receiver Phillip G. Young Jr. requested permission to file his response to a pending motion for reconsideration under seal. According to the motion, the response incorporates findings and conclusions from the receiver’s previously sealed Second Quarterly Report. The receiver argued that public disclosure of the material could jeopardize ongoing efforts to refinance company debt or sell assets, and could also affect the value of the business while those efforts are underway weaver_0113262.
The receiver told the court that all parties to the case, including counsel for Farm Credit Mid-America, PCA, will still receive unsealed copies of the response, meaning access would remain intact for litigants even if the document is not made public. He also cited concerns that disclosure of information related to potential litigation could negatively impact the receivership’s objectives if revealed prematurely weaver_0113262…