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Cosentino’s Financial & Legal Woes Gathering Momentum

The recent announcements from Cosentino Winery that it had abandoned most of its vineyards and wineries and defaulted on the interest payments due on $18 million in debt may be just a prelude to a gathering storm of lawsuits and financial crises.

Wine Industry Insight’s examination of public records, court documents and securities filings show a company out of money and scrambling to keep its head above water.

Among many issues, the records reveal:

  • At least nine current lawsuits in Napa County alone, including growers and mechanics liens.
  • An April 1 court judgment for $181,000 to a cork supplier.
  • More than $100,000 in overdue Napa County property taxes.
  • The unwillingness of its major creditor to renew its $18 million loan.
  • The company’s stock price in freefall.
  • Increasing losses and decreasing sales.

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  • LAWSUITS, LIENS & JUDGMENTS PILE UP
  • COSENTINO WALKS AWAY FROM MILLIONS IN  LEASE PAYMENTS FOR WINERIES AND VINEYARDS
  • NAPA COUNTY PROPERTY TAXES IN ARREARS
  • COSENTINO STOCK IN FREEFALL
  • MALPRACTICE INSURANCE INVESTOR REFUSES TO RENEW $18 MILLION LOAN
  • SINKING SALES MAKE FOR MORE RED INK

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