While spectators may think the case is about cleaning up a debt, it’s more about who has control in Uncle Nearest’s future as it is unclear who has the final say when a company is in receivership.
Uncle Nearest Whiskey brand may be receiving some saving grace, as an investor group is seeking to buy out the $108 million loan to speed up the potential sale, the Lexington Herald Leader reports.
A group of individual and institutional investors who make up the investor group NexGen2780 hopes to buy out the $108 million loan to Kentucky lender Farm Credit, in hopes of speeding up the sale of the troubled Black-owned spirits brand owned by Fawn and Keith Weaver. Walter Miles of Johns Creek, Georgia, presented the idea in a letter filed in federal court before U.S. District Judge Charles E. Atchley Jr…