Staff Report
A new filing published on Oct. 29 has, for the foreseeable future, effectively halted the ongoing dispute regarding the scope of receivership in the case between lender Farm Credit Mid-America and whiskey brand Uncle Nearest Inc.
Signed by U.S. District Judge Charles E. Atchley Jr., who has presided over the case since the beginning, the “Agreed Order Staying Proceedings Related to Receiver’s Motion for Clarification” temporarily pauses any proceedings related to the receiver’s, Phillip G. Young Jr., efforts to extend receivership beyond the holdings of Uncle Nearest Inc. to other businesses owned or controlled by the Weavers. Among those Young requested control of included: Humble Baron, the Weavers’ bar-restaurant at Nearest Green Distillery, Classic Hops Brewing, Shelbyville Barrelhouse BBQ, and several others.
In lieu of full receivership, the court ordered the affiliated businesses to turn over two years of bank statements and financial documents within seven days. Young will be granted authority to review the documents and is permitted to view up to three additional years of bank statements if necessary.
The decision gives both parties specific deadlines to seek clarification before the court decides if a hearing is necessary. In short, the ruling places a pause on further litigation until the firm’s financials are studied in more detail before finally declaring if the receivership should be extended to include the Weavers’ other holdings.
