Uncle Nearest Whiskey Founder Loses Control in Bankruptcy Battle

0:00From Durham, this is your March 20th update. Fawn Weaver, founder and CEO of the Uncle nearest whiskey brand, has failed in her latest push to regain control of the company. A federal judge rejected her, Chapter 11 bankruptcy filing on March 19th, keeping the business under court-appointed receiver Phil of G. Young Jr., who's been running things since last August, Weaver had accused Linda Farm Credit Mid-America of spreading false claims about missing inventory, financial misconduct, and insolvency in a new. York Law suit. She tried the bankruptcy move to sideline the receiver, but the judge ruled she lacked authority to file on the company's behalf. The receivers shipped them from the lender's suit over roughly $108 million in unpaid loans. Court documents pointed to violated loan terms, overstated inventory values, and low cash balances leading to the founder's losing operational control. Young is now pushing to sell off non-core assets like vineyards and real estate to raise

1:01cash and stabilize operations. He's also filed for sanctions against Weaver, calling her actions a willful violation of court orders. The legal battle over Uncle nearest as future rages on, with the company still producing whiskey amid talks of restructuring.