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Stevenot Files Ch. 11 For Second Time

January 12, 2009 | Filed under Daily Data | Posted by

Faced with a foreclosure sale scheduled for today, troubled Stevenot Winery filed for Chapter 11 reorganization on Friday, Jan. 9, in U.S. Bankruptcy Court for the Central District of California, in Sacramento.

Under previous ownership, the Murphys, CA winery had filed for Chapter 11 on January 24, 2005 and emerged from that proceeding June 21, 2006.

Current owner Jack Munari purchased the Calaveras County winery in 2006.

The winery rushed into bankruptcy court with a partial filing and has until Jan. 26 to complete its filing.

The current action was foreshadowed earlier this year when Stevenot fell behind on payments to grape suppliers.

TOP 20  STEVENOT UNSECURED CREDITORS

Tapp Technologies Langley, BC, Canada $ 138,288
California Glass City of Industry, CA $ 111,498
Alvin Algee Paso Robles, CA $ 100,000
Wither Hills Blenheim, New Zlnd $ 71,352
Raft River Vintners Hoquiam, WA $ 59,826
Blandino Figueroa Farm Labor Stockton, CA $ 28,386
Silvaspoons Vineyards Galt, CA $ 26,282
Newpak USA Benecia, CA $ 25,283
Arciero Vineyards Paso Robles, CA $ 25,125
State Board of Equalization Sacramento, CA $ 23,407
La Fite Cork & Capsulle Napa, CA $ 13,716
Mellor Farms Linden, CA $ 13,230
Orion Wine Software Santa Rosa, CA $ 10,952
Bassetti Farms King City, CA $ 10,489
Demetrio Nava Murphys $ 10,000
NovaVine Santa Rosa, CA $ 7,685
Compli Atascadero CA $ 6,616
Seguin Moreau Pasadena, CA $ 6,361
Lodi Lockford Tractor Lockford, CA $ 6,221
Calaveras County Tax Collector San Andreas, CA $ 5,000

UPDATES WILL BE POSTED WHEN AVAILABLE

Wine Industry Insight placed calls to Stevenot Managing Member Jack Munari; Silvaspoons Vineyard owner Ron Silva; creditor Alvin Algee and John Graziano at Bay Sierra Mortgage Fund of Santa Rosa.

No calls were returned by posting time.  All comments received will be posted as updates