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159-year-old whiskey brand files disputed Chapter 11 bankruptcy
When a company gets put into a receivership, that’s usually a last-ditch effort to save the brand.“The receiver’s job is to literally operate the business,” said John Mark Jennings, a partner in the law firm of Shulman Hodges & Bastian LLP to Smart Business. “A receivership is an action brought against your company because it is being operated to the detriment of shareholders or creditors.”In the case of Uncle Nearest, one of the fastest-growing independent American whiskey brands in recent years and a legendary liquor brand that traces its roots back 159 years, the founder of the company and its largest shareholder, Fawn Weaver, believes that the company should not be controlled by receiver Phillip G. Young Jr.Weaver has filed a lawsuit and for Chapter 11 bankruptcy for the brand, which she currently does not control.A look at the Uncle Nearest lawsuitThe founders, CEO, and largest shareholder of Uncle Nearest have filed a lawsuit against Farm Credit Mid-America in the Supreme Court of the State of New York, alleging the lender engaged in a smear campaign against the fast-growing whiskey brand by knowingly circulating false accusations, including claims of missing inventory, financial misconduct, negative cash flow, and insolvency, the company shared in a press release.”The accusations circulated about us were not only false. The bank knew they were false when they made them, and they knew those accusations would strike directly at the credibility that allowed this brand to grow against all odds in this industry,” said Uncle Nearest CEO Fawn Weaver.Weaver said the company filed for Chapter 11 protection earlier today, bringing the court-appointed receivership to an end. That will lead to a number of things:Through the Chapter 11 proceeding and related litigation, Uncle Nearest, Inc. will pursue claims and counterclaims against its lender arising from the administration of the credit facility.The filing allows the company to protect the interests of all creditors and shareholders, continue normal operations, and address claims and counterclaims related to the secured lending relationship in the proper forum.Court filings associated with the Chapter 11 proceeding reflect approximately $13,188,927 in unsecured obligations. The loan at issue with Farm Credit reflects a stated principal balance of approximately $102,521,326, which the company disputes and will address through claims and counterclaims against the lender. These liabilities stand against enterprise assets estimated at approximately $529 million.The fate of the company remains unclear”Weaver announced the news on Instagram, saying that the Uncle Nearest receivership “is done,” but it is unclear what immediate impact the filings will have,” according to the Lexington Herald Leader. The Chapter 11 bankruptcy filing is a legal step to regain control, but it does not place Weaver back in charge of the brand. “Previous court orders gave the receiver the power to declare bankruptcy so it isn’t clear if Weaver or her business could do so without the approval of the receiver or the judge in that case,” the paper reported.As the receiver, Young had been working to fix the brand’s finances.“Uncle Nearest Inc. is preparing to sell off non-core assets, including French vineyards, a Cognac château, and other real estate, as part of efforts to stabilize the Shelbyville whiskey company under court-appointed receivership,” the Moore County Observer reported.Young had said that a liquidation or Chapter 7 bankruptcy filing was possible.Uncle Nearest’s financial troubles so farTennessee whiskey brand Uncle Nearest was placed into court-ordered receivership in August 2025 after a lawsuit from lender Farm Credit Mid-America alleging the company defaulted on roughly $108 million in loans and lines of credit, according to Forbes.A federal judge appointed a receiver to oversee the company and manage its assets while the lender attempts to recover the debt. The move temporarily removed control from founders Fawn and Keith Weaver, reported Axios.The lawsuit claims the whiskey company violated loan terms and failed to maintain required financial conditions while carrying more than $100 million in liabilities, according to Forbes.Court filings also alleged the company overstated the value of whiskey inventory used as collateral and failed to maintain required cash balances under the loan agreement, Forbes added.The court-appointed receiver has explored selling non-core assets—including vineyards, real estate, and other alcohol brands—to raise cash and stabilize the company, according to TheStreet.Despite the financial dispute, the company has continued operating while the legal process unfolds, with investors and lenders negotiating potential restructuring options, added TheStreet.
Uncle Nearest honors Nearest Green, the man who created the original recipe for Jack Daniel’s. Shutterstock
What’s next for Uncle Nearest?Young was quick to respond to Weaver’s legal maneuvering.He called for judicial sanctions against her and is moving to block the petition. “Late March 17, receiver Phillip Young filed an expedited motion for sanctions against Weaver and/or her counsel for Weaver’s ‘wanton and willful violation of this Court’s order appointing the receiver.’ Under that order, only the receiver has the legal authority to take actions on behalf of the company,” according to the Lexington Herald Leader.Weaver’s actions, the receiver shared in court filings, were not legal, he claims.“Despite the clear orders of this Court that the Receiver, and only the Receiver, could act on behalf of the receivership entities, on March 17, 2026, Defendant Fawn Weaver signed and filed bankruptcy petitions on behalf of Uncle Nearest, Inc., Nearest Green Distillery Inc., and Uncle Nearest Real Estate Holdings, LLC in the United States Bankruptcy Court for the Eastern District of Tennessee, Knoxville Division,” the receiver said in the filing, which can be found on PacerMonitor.When a company already in receivership files Chapter 11, the situation usually does not get simpler. It gets bigger, shared an MC Observer piece analyzing the Uncle Nearest legal situation.”The fight often shifts from receivership court to bankruptcy court. The automatic stay usually takes effect. The receiver’s role changes. Management may try to stay in control. Creditors may challenge that immediately. And the first questions are rarely abstract. They are immediate and practical: who is in charge, where the cash is, whether operations can continue, and whether the filing was authorized in the first place,” the website shared.Uncle Nearest’s receiver retains controlYoung is taking steps to have the Chapter 11 filing dismissed.”Young and his counsel are now taking steps with the bankruptcy court to dismiss the bankruptcies, and have asked US district judge Charles E Atchley Jr to issue financial sanctions against Weaver and/or her lawyer,” Spirit Business reported.Young said he has considered and is likely to file for bankruptcy protection for Uncle Nearest, but that yesterday’s filings were “premature and ill-conceived”.“These actions require immediate and severe sanctions by this court – not only because they are intentional and knowing violations of this court’s orders, but because they have caused significant and irreparable damage to the companies that the receiver has been ordered to protect,” he shared in the court documents. Related: 51-year-old regional fast-food favorite files Chapter 11
What To Do When the State of the World Is Making You Nervous About Your Investments
The U.S. and Israel are at war with Iran. Oil prices have spiked. Gas is getting more expensive. There’s talk of inflation coming back, of the conflict spreading, of a wider regional war nobody can predict. Meanwhile, AI is reshaping entire industries, and many people are quietly wondering whether their jobs will look the same in five years — or even exist at all.
If you’re watching your portfolio and feeling the urge to do something, that feeling is understandable.
But remember, nobody knows what any of this actually means for the economy or your investments. There are a hundred plausible scenarios between “this resolves quickly and the market shrugs” and “this gets worse and drags on for years.” Every one of those scenarios has smart, credentialed people behind it. None of them knows.
What you do know is how you’re feeling right now and that’s worth paying attention to.
Your Feelings Are Telling You Something About Your Plan
Checking your balance several times a day, thinking about moving to cash, wondering if you should wait this out on the sidelines — those feelings are telling you something.
Your current plan may not be right for your temperament.
A good investment plan doesn’t need to predict the future. It doesn’t need the news cycle to cooperate. It’s built for the kind of world we’re living in right now, including wars, energy shocks, technological disruption, and uncertainty. A good investment plan helps you stay calm during times of uncertainty.
The people who came out ahead of every previous crisis weren’t the ones who saw it coming. They were the ones who had a plan they could hold when things felt like this.
If the current moment is making you want to abandon your plan, that’s not the market failing you. It’s a sign the plan was never built for who you are.
Use This Moment as a Stress Test
Think of this period of uncertainty as a “stress test” for your portfolio. It’s easy to think you have high risk tolerance when the sun is shining, but your true risk tolerance is whatever you feel right now. If you find yourself checking your balance with a knot in your stomach, it may mean your tolerance for risk and uncertainty is not as high as you thought it was.
A successful strategy isn’t one that maximizes returns during the good times; it’s one that is boring enough to keep you from panicking during the bad times. If you feel like you need to “wait for things to settle down” before you can be calm, that’s not a sustainable plan. True financial peace comes from building a portfolio that accounts for the fact that the world is almost always messy.
3 Ways To Think About What To Do Next
1. Revisit your plan. If this stretch of news has you questioning your investments, the right conversation isn’t about what the market is going to do. It’s about whether your long-term plan actually fits your risk tolerance — not just temporarily, until things settle down, but permanently. Markets will always have moments like this.
2. Consider shifting toward more bonds. Vanguard founder John Bogle’s view on this was simple: “If you’re worried, you should have more bonds.” Bonds are the ballast — the part of a portfolio that doesn’t swing as hard when stocks do. Shifting toward a more conservative allocation should be a long-term decision, not a weather forecast. If your current mix has you losing sleep, it may be the wrong mix for you.
3. Or do nothing. “Don’t do something,” Bogle said. “Just stand there.” If you have a solid plan aligned with your needs, the news cycle, as loud as it is right now, is not a reason to change it. The investors who build real wealth over time are the ones who stay in their plan through moments like this one.
The post What To Do When the State of the World Is Making You Nervous About Your Investments appeared first on Clark Howard.
Amazon is selling a 3-piece quilt set for $22 in 8 colors ahead of its Big Spring Sale
TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this dealOnce spring weather really starts to hit and the temperature starts to rise, it’s your sign to say goodbye to your thick winter bedding and hello to light and breathable options, like quilt sets. While great for year-round use, quilt sets really shine during the warmer months and transitional weeks between seasons, offering a cozy yet light covering that won’t make you overheat in the middle of the night.Amazon’s Drucon 3-Piece Quilt Set is an affordable set that’s perfect for spring. It has a dreamy boho design and spring-ready feel. On sale for $22, it’s 42% off its regular price of $38, making it a steal that you can shop ahead of Amazon’s Big Spring Sale, which kicks off on March 25. Drucon 3-Piece Quilt Set, $22 (was $38) at Amazon
Courtesy of Amazon
Shop at AmazonWhy do shoppers love it?Boho bedding can make your room feel like a cozy little sanctuary, and there are so many designs that can fall under the aesthetic. There’s bedding with tufting that gives a bed more dimension and texture, and there are floral prints that can give a room a playful refresh. But if you love the look of clean lines and geometric shapes wrapped into a perfectly boho package, this quilt set might be perfect for you.In this three-piece set, you get a quilt and two matching pillow shams. Each one has a striped and geometric boho design that makes a statement without overwhelming your room. The quilt set is reversible, too, so you can flip it over for a solid hue that’s more minimalistic. The set is made of polyester, making it lightweight and soft, which is perfect for spring nights. Since it’s so lightweight, you can use it for virtually all seasons, whether it’s on its own during the warmer months or paired with a thicker blanket or comforter during the colder months.The quilt set is available in eight colors, ranging from a neutral gray to a vibrant yellow. Related: Amazon is selling a 7-piece bedding set for $37 that comes in 24 colorsDetails to knowSizes: Queen and king.Colors: Eight.Material: Polyester.”I love this quilt set! The boho Aztec design is gorgeous and looks even better in person,” a shopper said. “It’s lightweight but still feels cozy, which makes it perfect for year-round use.” They added that the material is “soft and comfortable,” making it a great buy.Other shoppers highlighted how light the set is, saying it’s perfect for anyone who doesn’t want a bulky comforter.Shop more dealsFlymme 3-Piece Quilt Set, $22 (was $28) at AmazonWuruibo 3-Piece Quilt Set, $23 (was $24) at AmazonYiran Floral 3-Piece Quilt Set, $26 (was $42) at AmazonLightweight bedding is ideal for spring, and if you’re looking for a new and stylish set, the Drucon 3-Piece Quilt Set might be the perfect pick. At just $22 with up to 42% off, it’s a fantastic deal you can score ahead of Amazon’s Big Spring Sale.
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