New Vine, IBG Deal To Be Examined By Bankruptcy Trustee

Silicon Valley Bank (SVB) and Sherwood Partners have been ordered to appear at separate January examination sessions to answer detailed questions and produce hundreds of documents regarding Inertia Beverage Group’s  acquisition of New Vine’s (NV) debt and all its assets.

The examinations call for “the most knowledgeable person” at each company to appear and produce documents at the offices of Redun Stromsheim, the San Francisco law firm representing Jeffrey G. Locke, the U.S. Trustee appointed to oversee the Chapter 7 liquidation of New Vine.

In early June 2008, IBG purchased NV’s senior secured debt from SVB. IBG subsequently foreclosed on the debt, and on July 27, acquired all NV’s assets in an auction. IBG was the only bidder in that auction.

• The complete court order for the Silicon Valley Bank examination is available here for VIP Premium subscribers.
• The complete  court order for the Sherwood examination is available here for VIP Premium subscribers.

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Also In This Article:

The full text of the following sections is available to VIP Premium Subscribers).

• JANUARY DATES SET FOR BROAD DISCLOSURE EXAMINATIONS

• APPEARANCE, VAST NUMBER OF DOCUMENTS DEMANDED FROM SILICON VALLEY BANK ON IBG ACQUISITION OF NEW VINE DEBT
  

• SHERWOOD ORDERED TO DISCLOSE DETAILS OF AUCTION, NV/IBG DEBT, POTENTIAL BIDDERS, APPRAISALS, PROCEDURE
  

• EXAMINATION TO INCLUDE CONNECTIONS WITH MONTAGE CAPITAL, THOMVEST, ALTOS VENTURES

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