Asset dispute looms as bankruptcy specialist hired for troubled Tenn. distillery
AI-generated summary reviewed by our newsroom.
- Receiver hires bankruptcy specialist as Uncle Nearest faces $108M loan default.
- Dispute emerges over whether related entities and assets fall under receivership.
- Receiver seeks court clarification as Weaver-linked firms complicate asset scope.
Popular whiskey brand Uncle Nearest and Nearest Green Distillery could be inching toward filing for bankruptcy as a dispute looms over which assets the receiver can tap into.
New filings late last week by the receiver appointed in August to take over the ailing business, which owes Kentucky lender Farm Credit more than $108 million, indicate that a firm specializing in turning around distressed businesses, sometimes through bankruptcy, has been hired.
The receiver, Phillip G. Young, already is empowered to commence bankruptcy on behalf of Uncle Nearest.
Newpoint Advisors Corporation is the financial consultant for the appointed receiver, which has also hired Thoroughbred Spirits Group as the operational consultant.
Belcher, Sykes & Harrington has been hired to serve as alcoholic beverage counsel.
In addition to receiver Phillip G. Young Jr.’s own law firm, Thompson Burton in Nashville, a separate French law firm has been hired to assist in the evaluation and/or liquidation of the estate’s French assets, and another firm has been hired to assist in the evaluation and/or liquidation of the estate’s Massachusetts assets.
Uncle Nearest founder Fawn Weaver’s purchase of a cognac distillery in France and a house in Martha’s Vineyard have been called into question by the bank, which sued Uncle Nearest, Nearest Green, Weaver and her husband, Keith, in federal court in Tennessee.
In late July, Louisville-based Farm Credit Mid-America PCA sued the Weavers, Nearest Green and Uncle Nearest, alleging they had defaulted on more than $100 million in loans and inflated the value of whiskey barrels used as collateral by at least $24 million.
The Weavers have blamed a former executive, and they say they are the victims of fraud. The highly successful Black-owned whiskey brand is named for Nathan “Nearest” Green, a Black formerly enslaved distiller who taught distilling techniques to Jack Daniel, founder of Jack Daniel’s Tennessee Whiskey.
Dispute over individual Weaver-controlled assets
The Weavers and Farm Credit are expected to dispute which assets the receivership covers, according to another filing.
The receiver filed a motion asking U.S. District Judge Charles E. Atchley Jr. for “clarification,” saying that during investigation of financial records, several entities have been identified that “appear to be somewhat related to Uncle Nearest Inc. and may fall within the scope of the Court’s Order.”
Those assets and entities include:
- Uncle Nearest Real Estate Holdings LLC, which was listed in the original complaint but not specifically listed in the judge’s order, creating confusion.
- Shelbyville Barrel House BBQ LLC, believed to be owned by Keith Weaver, which operates from the Uncle Nearest/Nearest Green property but appears to be separate financially.
- Humble Baron Inc., a Delaware Corporation that appears to be owned by a blind trust that benefits Keith Weaver. “Upon information and belief, this entity must be owned by a blind trust in order to keep its restaurant license separate from Uncle Nearest’s distilling license. It operates from the Uncle Nearest/Nearest Green property, but appears to be financially separate from Uncle Nearest,” according to the filing.
- Grant Sidney Inc., apparently “owned entirely by Fawn Weaver, is the largest shareholder of Uncle Nearest and has contributed capital to Uncle Nearest ... The Receiver believes that this company also owns interests in other spirits unrelated to Uncle Nearest,” according to the filing.
- Uncle Nearest Spurs VI, a Delaware LLC, that the receiver said turned up in a general records search but “it is unclear how this entity is related to Uncle Nearest.”
- Quill and Cask Owner, another Tennessee LLC owned by Fawn and Keith Weaver that “has contributed capital to Uncle Nearest from time to time, and has purchased barrels of spirits from Uncle Nearest.”
- Nashwood Inc., a Delaware Corporation, also owned by Fawn and/or Keith Weaver that operates Tolley House Bed & Breakfast in Lynchburg, Tenn.
- Classic Hops Brewing Co., apparently a concept Keith Weaver started but it is unclear if it was ever incorporated or fully operational.
- Shelbyville Grand LLC, a Tennessee company owned by Fawn and/or Keith Weaver that also operates from the same location as several other Weaver-owned corporate entities. It is unclear what this entity does “but it appears in certain corporate records,” according to the receiver’s filing.
- Weaver Interwoven Family Foundation, ownership and function unknown, but also appears in certain corporate records of Uncle Nearest.
- 4 Park Street LLC, a Delaware company also owned by the Weavers that maintains bank accounts at similar banks as Uncle Nearest and “the Weavers are signatories on those bank accounts. Its purpose and function are unknown to the receiver,” according to the filing.
“Based on conversations with Fawn and Keith Weaver, the receiver expects them to argue that these other entities and their assets should be beyond the scope of this receivership. Therefore, the receiver seeks this Court’s guidance on the issue,” according to the receiver’s filing.
The original court order defined the assets as including “all of Uncle Nearest’s assets, including proceeds ... property of whatever kind ... including the Nearest Green Distillery Real Property,” plus Domaine D’Anatole (related to the cognac Weaver purchased), S1 Organic Vodka, UN House MV, Uncle Nearest Ventures and the Nearest Green Historical Preservation & Culture Fund.
No response or ruling had been filed as of noon Sept. 15.
Meanwhile, an online blog called thebourbonandryeclub.com, which has covered the Uncle Nearest saga extensively, has written that Uncle Nearest employees have come forward saying they were “directed” by distillery management to purchase multiple copies of Fawn Weaver’s book, “Love & Whiskey,” through their private Amazon accounts using Uncle Nearest company credit cards.
The orders would have not only inflated sales, but also could have funneled corporate money into Fawn Weaver’s royalties, the blog indicated.
This story was originally published September 16, 2025 at 5:00 AM.
