Winc Lawyers File Last Minute Blizzard Of Bankruptcy Court Documents. Deadlines Moved. Other Changes Seem Minor

 

Bankruptcy attorneys for Winc, Inc. filed 10 lengthy court documents late yesterday (Dec. 22) apparently in response to objections raised by the Committee of Unsecured Creditors.

 

For more details on those objections, see: Deadline Looms For Bids To Buy Winc Assets. Creditor Group Objects, Wants Postponement, Rules Changes.

 

A substantial number of the Unsecured Creditors Committee accusations, objections, and requested changes seem to have been ignored. That may or may not be the case, but Wine Industry Insight — along with opposition counsel, and the general public — has not had sufficient time to thoroughly review the documents.

Acceptable Minimum Bid Offer Raised, Deadline Changes

A quick scan makes it seem that, in addition to adjustments of  deadlines (See screenshot, below), the most significant change has been to increase the acceptable minimum offer  from $10 million to $11,630,000.

 

Holiday Reading?

Many of the documents contain multiple, detailed “black-lined” edits which are impossible to accurately evaluate in context given the last-hour filings.

 

It’s worth noting that the Unsecured Creditors Committee filing that prompted these changes accused Winc attorneys of deliberately rushing the deadlines during the holiday break in order to prevent a thorough examination of the filings and to discourage new bidders from entering the process.

 

Subscribers who desire some tediously somnabulant reading over the holidays are directed to the raft of court filing links at this page.