Bankruptcy Court to Formally Consider Sullivan Vineyards Sale on Dec. 11

A formal hearing on a proposal to sell Sullivan Vineyards will be held at 10:30 a.m. Dec. 11 in the Santa Rosa courtroom U.S. Bankruptcy Court for the Northern District of California.

The hearing follows an oral discussion during a hearing on Oct. 30, (previously reported by Wine Industry Insight) at which the Bankruptcy Trustee reported on a Letter of Intent he had received. The LOI offered to  buy the winery, vineyards and other assets for an amount sufficient to reimburse all creditors and still leave some equity for the Sullivan family.

 

Bankruptcy documents and public records indicate that the potential buyer is a globally successful technology executive entrepreneur who is expected to make an 8-figure, all-cash offer intended to settle the bitter and contentious bankruptcy of Sullivan Vineyards.

A copy of the  Trustee’s motion (with title report) along with a detailed article on the prospective buyer can be accessed by Wine Executive News Premium subscribers by logging into their accounts below:

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Previous Wine Industry Insight Coverage

• Global tech entrepreneur emerges as white knight to end bitter Sullivan Vineyards bankruptcy

• Sullivan Vineyards must be sold, cannot be reorganized says Bankruptcy Trustee. Family pushes back.

• Sullivan Bankruptcy Trustee Hits The Ground Running, But Secured Creditors Losing Patience

• Sullivan Vineyards Bankruptcy: Napa Valley’s Chapter 11 From Hell

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