Cosentino Winery: New $147K IRS Lien, $511K Court Levy, Possible Cellar Gear Repo

Napa Valley’s Beleaguered Cosentino Winery has been hit with:

• A $146,755.64 IRS tax lien,
• A judgment for $511,308.75 issued by Orange County (Calif.) Superior Court Judge Geoffrey T. Glass,
• The imminent repossession of an extensive list of leased cellar and winemaking equipment including barrels, pumps, destemmer/crusher, cooling, washing and other equipment.

Premium VIP subscribers access the judgment and attached list of cellar equipment here.

The judgment and at-risk cellar equipment result from the unraveling of a payment settlement deal signed on Sept. 30, 2009 following the winery’s inability to make scheduled lease payments. The leasing company moved for enforcement when the settlement terms were not adhered to.

VIP Subscribers click here to read the complete article and access original court filings.

PREVIOUS WINE INDUSTRY INSIGHT COVERAGE OF COSENTINO WINERY

• Cosentino Financing Fails, Will Cease Custom Crush
• Cosentino Running Out of Last Chances? Growers Head For Court, MCOZ Stock Suspended Again
• Cosentino Gets Brief CDFA License Suspension
• Cosentino: Legal, Regulatory Hurdles Mount
• Cosentino Loses $14.2Million on Revenues of $10.2Million
• Cosentino Winery’s Legal Issues Could Seal Its Fate In Next Few Weeks
• Cosentino Winery Sued For $500K+ In Latest Legal Battle
• Follow-Up On CDFA Cosentino Hearing
• Judge Lets Cosentino Dodge $1.2 Million In Grower Payment Demands
• Cosentino Woes Mount, Stock Trading Suspended
• Cosentino’s Strong Consumer Support Not Reflected In Financials
• Cosentino Scrambles For Shelter To Stay Ahead Of Lawsuits
• Sale/Leaseback Owners Shopping Cosentino’s Lodi, Pope Valley Wineries and Vineyards
• Cosentino’s Financial & Legal Woes Gathering Momentum
• Cosentino Defaults On Loan Interest, Says Current Banks Won’t ReFi