Why I’m interested

Aside from a general interest in all things in the whiskey space in the United States, a good personal friend of mine wrote this article a few years ago. What it did for me was to raise my suspicions that something was going on. I had been a big fan of the Uncle Nearest brand building(remain a fan of the story). I even had the opportunity to be on a call with “The Peoples CEO”. I brought my daughters to the computer just so they could see a female leader in a largely male space. The kinds of things that they deserve to see.

Knowing the push back David received after writing that article put me as a cautious observer so when the entire receivership process began I knew I wanted to watch. Luckily someone far more talented with words began a live blog of that. What follows is the best summarization of his work that I can muster.

Read Mickey’s Full Coverage First

If you’re not already following this situation, go to Mickey Pinstripe’s live updates at The Bourbon and Rye Club before reading further: thebourbonandryeclub.com/uncle-nearest-lawsuit-live-updates

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This is a condensed October summary for people already tracking the case. All investigative work and detailed analysis belongs to Mickey Pinstripe (Michael DeKeyser). Follow him: @thebourbonandryeclub on Instagram | @TheBandRClub on X

What Happened in October

The receiver filed his first quarterly report 10/1, the Weavers fought expansion of receivership to additional entities 10/22, and by 10/31 an agreed order required those entities to provide bank statements. Here’s the timeline.

10/01 - Receiver’s First Quarterly Report

Core findings: Company has significant value and can be reorganized as a going concern. Fire-sale liquidation unnecessary. BUT—non-income producing assets (Cognac château, Martha’s Vineyard house, various properties) will be sold. Core whiskey business viable with refinanced debt or sale.

Key revelations:

• Financial records before 2024 allegedly erased by former employee

• Capitalization table inaccurate and incomplete

• Some validity to allegations against former CFO, but no evidence of misappropriation by current management “to date”

• 12 employees laid off (13% workforce reduction)

• Bank injected $2.5M additional funding to keep operations running

• Cash flow was major challenge initially, now stabilized

• Hundreds of creditors contacting receiver

• Related entities commingled assets to point they’re “best viewed as a single enterprise”

Financial issues identified:

• Non-reconciled balances

• Unusual accounting entries lacking documentation

• Improper revenue recognition practices may inflate perceived performance

• Grant Sidney and Quill & Cask transactions require further review

Timeline: Receiver hopes to conclude by Q1 2026 through debt refinancing or sale of company as going concern.

10/02-10/06 - Additional Creditors Surface

10/03: WhistlePig filed request for court updates (owed money for rye whiskey or bottling services)

10/07: Oracle/NetSuite filed similar request (owed money for software services)

10/09-10/13 - Investigation Expands

10/11: Board of directors info revealed—John Eugster from First Dominion Capital identified

10/13: Receiver filed Motion of Compliance, officially served notice on 10 entities he wants included in receivership (the “Tentities”):

• Shelbyville Barrel House BBQ

• Shelbyville Grand LLC

• Grant Sidney Inc. (largest UN shareholder, owned by Fawn Weaver)

• Quill and Cask Owner LLC (owned by Keith Weaver, purchased barrels from UN)

• Nashwood Inc.

• Humble Baron Inc. (world’s longest bar, paid for by UN)

• 4 Park Street LLC

• Uncle Nearest Spurs (created for potential San Antonio Spurs investment)

• Classic Hops Brewing Co.

• Weaver Interwoven Family Foundation

10/17-10/20 - Trademark Discoveries

Mickey’s research uncovered multiple Grant Sidney-owned trademarks unrelated to whiskey:

• Second Rose: Spirits company owned by Fawn via Grant Sidney, filed 6/27/25

• King Narmer: Beer/brewery trademark (Egyptian king who owned ancient brewery)

• Skinny Southerner: Possible lifestyle/diet book

• Various other entities at same Nashville address (Deaderick Street)

10/21-10/22 - Major Filing Day

10/21: Tentities’ deadline to respond to receiver’s inclusion motion

10/22: 12 separate filings hit the court. Weavers retained new attorney Michael E. Collins from Manier & Herod. Each Tentity filed lengthy responses arguing against inclusion.

Key arguments from Tentities:

• Receiver taking no position means no basis for inclusion

• Farm Credit filed nothing to support allegations despite court order

• Entities maintain separate operations, books, bank accounts

• Humble Baron legally required to be separate from UN for liquor licensing

• Grant Sidney’s $30M loan to UN during forbearance was legitimate equity investment

• Payments between entities were proper (disputed by Farm Credit)

Notable admissions:

• Grant Sidney initially booked transactions as barrel sales, later recharacterized as loans

• Some transactions “incorrectly booked” due to “speed required”

• Humble Baron operates rent-free on UN property

• UN paid for Humble Baron’s Guinness World Record designation

• Shelbyville Grand (Keith-owned) claims UN owes rent since February 2025 but hasn’t paid

10/23 - Bank Responds With Sealed Documents

Farm Credit filed response to court’s 9/30 order—all sealed:

• Summary of cash transactions from UN’s financial advisor

• Levy Settlement Agreement

• Barrel Purchase Agreement with Q and Cask (no executed copy received)

• Summary of findings from receiver’s financial advisor

Documents remain sealed because Tentities aren’t yet under court jurisdiction.

10/24-10/25 - Legal Team Expands

10/24: Tentities filed Pro Hac Vice motion for California attorney Oren specializing in distressed businesses, receiverships, protecting assets

10/25: Mickey analyzed Fawn’s Inc. 5000 Conference interview where she:

• Called Martha’s Vineyard property “smear campaign tactic”

• Claimed bank tried to “taint the judge, who’s going to be White in eastern Tennessee”

• Said she wouldn’t buy vacation home “not on the water in a town that is not sunny nine months out of the year” (contradicts prior “business investment” claim)

• Revealed UN House MV LLC and 4 Front Street LLC ownership details

10/27-10/28 - Receiver Pushes Back

10/27: Weavers filed complaint that Farm Credit violated “spirit” of court order by waiting to file sealed documents until after Tentities’ responses were due

10/27 (2.0): Receiver filed response making clear he’s not doing Farm Credit’s bidding:

• Motion to Clarify was to alert court to entities and seek interpretation, not advocate for expansion

• “It would be inappropriate for the Receiver to argue for the extension of his duties”

• “The Receiver is here to follow the direction provided to him by this Court, and not to do the bidding of any other party”

• Receiver retained Arlington Capital Advisors to advise on possible transactions including sale of assets

10/28: Mickey discovered two separate Deere & Company (John Deere) loans in Keith Weaver’s name for Eady Road property equipment, paid for by Uncle Nearest

10/31 - Agreed Order Reached

Court approved joint motion with agreed order:

• Motion to Clarify stayed pending review of bank records

• Tentities must provide 2 years of bank statements within 7 days

• Receiver has 14 days to review

• If additional info needed, can request up to 3 more years of statements

• Tentities have 10 days to provide or explain why unavailable

• After review, receiver will either request hearing or withdraw Motion to Clarify

• Receiver must file progress reports every 30 days

Significance: This is the mechanism that determines inclusion. If bank statements show comingling/impropriety, hearing likely happens and Tentities get included in receivership. If not, receiver withdraws motion.

What It Means

October showed the receivership moving from assessment to action. The receiver’s report confirmed the company has value but identified serious financial control issues. The fight over the Tentities is the key battle—if those entities get included, the receiver gains access to a much broader financial picture.

The Cognac business is getting sold. The Martha’s Vineyard house is getting sold. Non-essential properties are getting liquidated. What emerges will be a smaller, cleaner Uncle Nearest—possibly under new ownership by Q1 2026.

The bank statements due under the 10/31 agreed order are the next inflection point. Those will determine whether the corporate veil gets pierced.

Again: This summary is based entirely on Mickey Pinstripe’s investigative reporting at thebourbonandryeclub.com. He’s doing the document review, financial analysis, and trademark research. Support his work directly.

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