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

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, re