When Uncle Nearest went into receivership just over one year ago, owners Fawn and Keith Weaver fought the ruling without success, and they are still fighting it as the business continues to be insolvent under receivership. In January, the Weavers filed a civil lawsuit against the company’s former CFO, Michael Senzaki, for breach of fiduciary duty and fraud, among other allegations.
Once the Weavers were removed from their positions over the summer, the receiver managed to slow the “hemorrhage” of funds from daily operations. Under the Weavers the business was losing more than $130,000 per week. Although small, expenses coming in are slightly more than expenses going out. However, there are still unpaid taxes and questionable mingling of accounts between multiple businesses owed by the Weavers. Also, the initial investor who was given until late June to agree on purchasing the once great liquor making behemoth never followed through on the deal.
Uncle Nearest in Need of a Buyer
According to a recent article on ShelbyvilleNOW, Uncle Nearest “is preparing for a possible bankruptcy filing as the court-appointed receiver works to find a [new] buyer for the whiskey business before its value declines any further. News is also not good for investors as the most recent quarterly report by the receiver to the court states, ‘all indications are that no funds will be available to shareholders following the liquidation of the assets of these companies.’”
The longer the company stays in receivership, more of a picture comes into focus of bad management from the beginning and dreams of expansion coming too quickly, as well as lenders who allegedly were not watching for red flags.
A Good Idea Now Being Sold Off in Pieces
Fawn Weaver had a strong initial idea that grew quickly into the largest liquor business owned by an African American woman. Uncle Nearest was winning awards and Fawn was gracing the covers of magazine after magazine. Then it came out in August 2025 that the company was more than $100 million in debt, and that it was being taken over by a receiver. Initially, the Weavers were part of the restructuring, until they began fighting what the receiver was doing to try to save the company.
Assets have been sold off, including a home the Weavers bought in Martha’s Vineyard that they used for business entertaining, in spite of the home being in a non-commercial residential area. The home was sold earlier in 2026, but it netted no financial gain. The sale price about broke even from the original purchase price.
Two restaurants on the property have been asked to close down and move out. Humble Baron, which was owned by Keith, went into Chapter 11 and was recently converted to Chapter 7. During the process of closing down this business, its financials were found intermingled with those of Uncle Nearest. Funds borrowed to run Uncle Nearest were “hidden” in its accounts to shield them from going to creditors instead of operations of the liquor distillery.
Humble Baron and Intermingled Funds
Nicholas W. Whittenburg, the judge for the Humble Baron bankruptcy case, ruled that the business needs to be placed in Chapter 7, saying, according to inc.com, that the case “certainly needs trustee oversight.” The article went on to say, “Humble Baron filed for Chapter 11 in June of this year with more than $6.1 million in unsecured debt, according to court documents.”
More than $66,000 was requested to be transferred from Humble Baron back to Uncle Nearest on July 23, but it was never paid back. Two other transactions were discovered for $40,000 in July and $34,584 in August to Weaver from the Humble Baron’s Wells Fargo account two months after the bankruptcy filing restricted such transfers without the court’s permission. There are further intermingling of assets and financials with other Weaver businesses including a hospitality company called Nashwood Inc., a lease with Uncle Nearest Real Estate Holdings, and a shared Shelbyville address.
An independent bankruptcy trustee is now overseeing the liquidation of Humble Baron’s assets. Recently that trustee asked the bankruptcy court to allow them to hire another company to assist in auctioning off all of the company’s remaining assets.
David Kozlowski, a partner in Morrison Cohen’s Bankruptcy, Restructuring and Governance, told inc.com, “Same family, same site, and two court-appointed fiduciaries coming at the transactions from opposite sides, each asking where the money went.”
Other Properties in the Mix
Shelbyville Barrel House BBQ, located in another building on the Uncle Nearest property, is also facing a potential eviction. It, too, is more than a year in rental arrears. The trustee anticipates formal eviction proceedings are going to have to take place before the owner of this business will vacate the premises.
One other piece of the puzzle is Domaine Saint Martin, a 100-plus year-old estate along the Charente River in Cognac, France and vineyards. The Spirits Business recently reported that the vineyards have sold subject to government approval, while other options are being explored tor the chateau. Uncle Nearest receiver Philip G Young, Jr is exploring the possibility of auctioning the property.
Finding a New Buyer on the Horizon
According to his most recent report to the court, Young still believes there is value in the brand, but he does note that the longer the company stays in receivership, the more damage will be done to the brand’s name.
The Spirits Business magazine article also reported that Young is in talks with three potential buyers of all of Uncle Nearest’s remaining assets. He believes he is close to completing a sale. The remaining assets include the Nearest Green distillery in Shelbyville, Tennessee, and related equipment.
Weaver filed a preliminary injunction motion on October 15 to prevent the business from being sold while her appeal against the receivership is pending; however a US court has denied this request, reports The Spirits Business.
“Once a sale has been negotiated,” notes Spirits Business magazine, “Young intends to file for Chapter 11 bankruptcy, which would allow the new owner to acquire the firm’s United States business assets without taking on its existing liabilities.”
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