Nearest Green Distillery faces $100 million lawsuit.

[flahute]

https://mcobserver.news/news/nearest-green-distillery-faces-100m-lawsuit/?fbclid=IwQ0xDSwL7AldleHRuA2FlbQIxMQABHiWWsAnhOv2Qk4ytvxNsuh7XkFbGiMiNdGHAcF2XXoJtiyXjNN5udcrm6-gQ_aem_DSLJ_nLsxJ_mgL95PyUqzA

[MM818]

That’s juicy. Sounds like the bank moved to receivership instead of letting the distillery declare bankruptcy or reorganize. I guess that’s what that post from Fawn meant? You would think they’ve been negotiating throughout the year. 

 

If those allegations are true that’s going to be very hard to overcome. We’ve all talked about how the whiskey economics are very different today versus 2017 when they launched their business. Those barrels valued at x but sold at lower values multiplied by millions. 
 

I hope they got some good use out of the MV home. 

[Kepler]

Oopsie

[Kepler]

That brand was created for all the wrong reasons during the woke period.  Will be interesting to follow this story.

[PaulO]

The lender claims Nearest Green associates misused loan funds in several significant ways.  It's well beyond that the business wasn't making enough money.  Allegations in the article seem like premeditated fraud.  That's where the receivership comes in.

The home on Martha's Vineyard    wtf