Bello Vineyard sale pending brings lower price, possible issues with clear title to real estate

A companion article may be accessed at: Bello Family Vineyards Rutherford estate possibly sold (or not) at bankruptcy auction. Turf battles & new legal complications raise doubts

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A sale is pending for the Bello Family Vineyards estate property in Rutherford but at a price below the auction’s premium bid according to court documents and multiple sources knowledgeable about the transaction details.

 

However, the sale price accepted by Santa Ana Bankruptcy Court Trustee Brian Weiss is lower than the auction’s low-bid level and may have issues with clear title to real estate. The low bid level was $7 million plus an 8% buyers’ premium of $560,000.

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Also In This Article:

The full text of the following sections is available to premium subscribers of Wine Executive News.

• Legal disagreement over “below-minimum-bid” sale price

• Title company says it will not insure

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Previous Wine Industry Insight coverage of the Bello bankruptcy

• Bello Family Vineyards Rutherford estate possibly sold (or not) at bankruptcy auction. Turf battles & new legal complications raise doubts

• Bello Family Vineyards Rutherford estate property set for bankruptcy auction

• Bello’s SoCal bankruptcy causes waves in wine country

• Bello bankruptcy clawback victims strike back with their own lawsuits

• Yao Family Wines Buys Bello’s Former St. Helena Tasting Room

Wine Executive News subscribers may access these full court documents:

• McConaghy Declaration-Pacer2096

• Memo Santa Rosa Trustee Opposition To Transfer To Santa Ana

• Nancy Bello clawback motion

• Motion to continue hearing-092716.pdf

• Motion to transfer Nancy Bello to Santa Ana WallDesign BK

• The complete court approved liquidation document

• The list of 82 clawback victims in Bello’s WallDesign Bankruptcy

• Bella Casa Superior Court Complaint

• Abreu Superior Court Complaint