Albeno Munari Winery – Formerly Stevenot – To Be Liquidated

The Chapter 11 bankruptcy of Murphys-based Albeno Munari Winery & Vineyards has been converted to Chapter 7 liquidation for failure to make timely payments as scheduled in its reorganization plan.

Albeno Munari Winery & Vineyards is the former Stevenot Winery.

Judge Ronald H. Sargis of the U.S. Bankruptcy Court for the Eastern District of California approved a request from creditor California Glass to convert from Chapter 11 to 7.

Wine Executive News subscribers please click here to read the judge’s printed decision (.pdf).

A LONG TANGLED BANKRUPTCY HISTORY

Jack Munari, the principal of Golden Eagle Estates purchased the Stevenot Winery and brands from Barden Stevenot in 2006. Munari took it into Chapter 11 reorganization on Jan. 9, 2009 in U.S. Bankruptcy Court for the Central District of California.

On Feb 4, 2010, Sutter Creek-based Oliveto Distributing Inc. closed its purchase of the Stevenot wine brand on Feb. 24 when a bankruptcy court confirmed the Chapter 11 reorganization plan of Golden Eagle Estates LLC.

Under that reorganization plan, Munari retained control of the winery facility.

PREVIOUS WINE INDUSTRY INSIGHT COVERAGE

• Stevenot Brand Sale Closes, Munari Retains Winery
• Stevenot Scrambling To Avoid Liquidation, Has Purchase Offer From Distributor
• Stevenot: Trustee Fight Heats Up, Mismanagement, “Bogus” Tax Returns Charged
• U.S. Trustee Charges Stevenot/Golden Eagle With “Gross Mismanagement” In Bankruptcy, Alleges Multiple Misdeeds
• Stevenot Deedholder Urges Foreclosure; 2008 Owner Draws = $841,000
• Stevenot Winery Chapt 11 Hearing & Creditors’ Meeting Set
• UPDATE: Stevenot Owes $5.75 Million To Deed Holder
• Stevenot Files Ch. 11 For Second Time