Uncle Nearest: Black Woman-Owned Billion-Dollar Whiskey Brand Hit With $100M Lawsuit
Black-owned whiskey brand Uncle Nearest has been hit with a $100 million lawsuit for allegedly not paying back its loans, as stated by court documents. Nearest Green Distillery, which sells Uncle Nearest premium whiskey across the US, has been accused of breaching loan agreements with its lender, according to a suit obtained by WSMV.
The lawsuit has been filed by Louisville-based Farm Credit Mid-America, which accuses the company’s founders, Fawn Weaver and her husband, Keith Weaver, of breach of contract, stating that they defaulted on multiple loans, totaling $108 million, including interest.
It also alleges that the company refused to provide adequate information and used loan proceeds to purchase a $2 million Martha’s Vineyard home, mortgaging the property to another lender, according to The Independent.
The lawsuit against Nearest Green Distillery
The court documents revealed that the weavers were sued in federal court on July 28.
Farm Credit accuses the whiskey brand of other misconduct, including inflating its inventory of whiskey barrels, which it had used as collateral for part of the loans; keeping a cash balance far below the $1.5 million required by the loan; and failing to maintain sufficient internal financial controls, as reported by The New York Times.
Farm Credit alleges that the defaults began in 2023. Still, they were willing to overlook them at the time and even extend the loans further, “in reliance upon Uncle Nearest’s representations as to its success and strategic growth.” It progressed with the request for a receiver, a neutral third party who will manage the company, though Uncle Nearest’s owners will not lose possession of their assets.
Uncle Nearest’s response
Fawn Weaver called the lawsuit “not only inaccurate” but “a flat-out lie used to smear my good reputation.” In a declaration filed with the court after the judge’s decision. In an Instagram video, Weaver said, “Don’t believe the fake news, some reports claim I no longer own Uncle Nearest and that I’m not running it.”
“Our team remains unshaken and unmoved. If that ever changes, you’ll hear that directly from me,” she adds.
Weaver worked on a book project that highlighted how Jack Green (also known as Nearest Green) mentored Jack Daniel and became the first master distiller of Jack Daniel’s whiskey. After completing the project, Weaver was inspired to launch the Nearest Green Distillery and the Uncle Nearest Premium Whiskey brand in 2017.
In 2024, Uncle Nearest became the fastest-growing American whiskey brand in history, driving a business worth $1.1 billion.
Image: Andrea Hutchinson
