Fawn and Keith Weaver’s roles at Uncle Nearest have been terminated, according to a court filing. The Weavers termination from Uncle Nearest Receiver Phillip G. Young Jr. shared the announcement in his fourth quarterly report, filed Friday, July 10, in the US District Court for the Eastern District of Tennessee, according to the Moore County Observer. “While this decision was not made lightly,” Young said, “it has resulted in significantly less confusion among employees and vendors, and has made business operations significantly smoother.” The Weavers confirmed their termination in a joint answer
Farm Credit is accusing Uncle Nearest of fraud, which includes an attempt to conceal a $20 million loan from Jay-Z, as stated by the Lexington Herald Leader. Nearest Green Distillery and the flagship Uncle Nearest whiskey brand have been under the management of a receiver since September, after lender Farm Credit Mid-America claimed the Weavers defaulted on more than $108 million in loans. Farm Credit Mid-America claims that Fawn and Keith Weaver have “egregiously mischaracterized” a $20 million loan from Jay-Z’s venture capital firm, MarcyPen. Jay-Z loan to Uncle Nearest being questioned
Uncle Nearest Property Listed for Sale Before Judge Decides on Receivership Expansion or Termination
Uncle Nearest is awaiting a decision on whether the company’s receivership should remain in place or be expanded to include Uncle Nearest and the current defendants, according to the Moore County Observer. Nearest Green Distillery and the flagship Uncle Nearest whiskey brand have been under a receiver’s management since September, after lender Farm Credit Mid-America claimed the Weavers defaulted on more than $108 million in loans. Uncle Nearest’s property listed for sale Receiver Phillip G. Young Jr listed the business’s Martha’s Vineyard property for sale. Farm Credit Mid-America alleges that Uncle Nearest
