Drive-by character assassins on social media have maliciously declared that Uncle Nearest, Inc., the leading independent producer of bourbon in America, is dead. They attribute the company’s death to the fact that a federal court in Tennessee appointed a Receiver on August 22, 2025, to take over the financial affairs of Uncle Nearest.
Uncle Nearest is led by dynamic CEO Fawn Weaver, a hardworking, supersmart, visionary entrepreneur. Weaver, who knows how to weather the storms of adversity in business, has created dynamic economic value in her growing bourbon company.
Unlike Sean “Diddy” Combs, who was merely a brand ambassador and marketeer for Cîroc vodka, Weaver and her husband Keith own and operate Uncle Nearest. Under their leadership, Uncle Nearest became the World’s Most Awarded Bourbon of 2019, 2020, 2021, 2022, 2023, 2024, and soon to be 2025. This is a remarkable acievement for a bourbon company that just started in 2017.
As the co-founder and majority owner of nationally-ranked
Alamerica Bank in Birmingham, Alabama for 20 years, I can tell you that Uncle Nearest is a rock-solid industry leader. Uncle Nearest is
NOT bankrupt. It is
NOT drowning in debt. The company’s debt-to-equity ratios, annual revenues, and system of internal financial controls are more than adequate for bank lending purposes.
Uncle Nearest is NOT a financial scam. The company’s retail bourbon sales are extremely strong in a down-market for hard liquor companies. Finally, there has been no change of ownership in its corporate structure.
As a retired litigator who holds the national record for trying and winning the largest and most complex financial fraud case in America history (
U.S. v. Richard Scrushy), I can tell you that the true story of Uncle Nearest’s
financial.situation is found in the
Docket Sheet entries in the federal case of
Farm Credit Mid-America, PCA v. Uncle Nearest, Inc., et al, Case No. 4:25-cv-38 (E.D. Tenn.).
This court case started on July 28, 2025, with a complaint filed by Farm Credit Mid-America. Yet, there have been only 48 docket entries filed in the case (as of October 6, 2025). This dearth of docket entries suggests that there has been a lot of behind-the-scenes cooperation between Farm Credit Mid-America, the Uncle Nearest-affiliated parties, and other interested parties in the case.
Simply put, Uncle Nearest is undergoing an internal restructuring of its debt at the request of its lead creditor – Farm Credit Mid-America. The litigation provides a convenient business tool that many solvent companies use to achieve greater flexibility in the performance of their debt obligations. This tool does NOT impair Uncle Nearest’s business operations, nor does it damage the company’s excellent and hard-earned business reputation.
The Receiver’s First Report is Very Good News for Uncle Nearest
On October 1, 2025, the court-appointed Receiver issued his
First Quarterly Report. After three months on the job, this is what the Receiver said:
“The Receiver believes that this receivership is progressing smoothly and that the opportunity for the Company’s successful emergence from receivership is very good. While challenges lie ahead, the outlook is positive. The Receiver hopes to present the Court with motions to sell non-essential, non-income producing assets over the next quarter, with plans to conclude this receivership in the following quarter via a total refinancing of the Company’s debt or a sale of the Company as a going concern.”
This optimistic quote is lawyer-speak for informing the court (and other interested parties) that Uncle Nearest’s financial situation will be a relatively easy debt restructuring job. The Receiver will sell some non-essential assets to reduce the Farm Credit Mid-America debt and refinance it on terms and conditions more favorable to Uncle Nearest.
Fawn and Keith Weaver will retain the option to sell Uncle Nearest for fair market value, should they choose to do. I believe a sale of the company is highly unlikely considering the fact that Uncle Nearest has been a proven, high-performing, revenue producing asset for the Weavers since its founding in 2017.
The bottom line is this: Uncle Nearest’s business foundation, top management executives, and day-to-day operations are rock-solid today. The company is an “ongoing business concern,” which is a very positive factor from a business valuation standpoint. The internal restructuring of Uncle Nearest’s core debt will be completed in record time. When Uncle Nearest emerges from receivership, it will be one of the strongest bourbon-producing companies in America.
