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Rabobank, W.J.Deutsch Take Massive Write-Downs As Court Clears Way For Renwood Winery Sale

The sale of financially troubled Renwood Winery has moved a step closer with the  approval of a consent agreement that will allow the assets to be sold free and clear of liens and lawsuits.

Robert S. Bardwil, U.S. Bankruptcy Court Judge for the Eastern District of California, has approved a compromise consent agreement in the case of bankrupt Renwood Group which owns 95 percent of Renwood Winery and 100 percent of Renwood Vineyard Properties.

Renwood Winery has not filed for bankruptcy, but has been under the administration of  court-appointed receiver Winston Mar who has been trying to sell the winery.

The sale has been thwarted by a lack of agreement among: Rabobank, W.J. Deutsch & Sons, Renwood Group’s bankruptcy Trustee David Flemmer, and Robert Smerling.

Wine Executive News subscribers please click here to read the complete article.

Also In This Article:

The full text of the following sections is available to Wine Executive News):

  • RABOBANK, DEUTSCH TAKE MASSIVE WRITE-DOWNS IN  CONSENT AGREEMENT

  • COURT DOCUMENTS AVAILABLE FOR WINE EXECUTIVE NEWS SUBSCRIBERS
    • Full consent decree
    • A timeline/summary of the case as laid out by Trustee Flemmer

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