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Bankruptcy Judge Rejects Creditor Objections, Approves Winc Sale To Stalking Horse

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Despite strong objections from Winc’s UnSecured Creditor’s committee, a judge for the Delaware Bankruptcy Court ruled January 18, that the insolvent subscription wine company is free to sell all its assets free and clear to Project Crush Acquisition Corp LLC (Delaware), a newly created LLC corporation run by created by Mark Lynn who is a Winc co-founder and currently the CEO of the Amass Group which is the stalking horse.

No other bidders came forward.

Wine Industry Insight has not had time to review yesterday’s lengthy filings, but will follow up as time allows.

The complete set of the filings from yesterday’s decision is available to premium Wine Executive News Subscribers at the top links, above.

January 18 Bankruptcy Filings

(Premium links for Wine Executive News Subscribers

  • ECF-1-Exhibit A- Creditors Committee.pdf
  • ECF203-Order Authorizing Sale Of Debtors Assets Free And Clear
  • ECF203-1-Purchase Agreement
  • ECF203-2-Transition ServicesAgreement
  • ECF203-3-Master Services Agreement
  • ECF203-4-Settlement Term Sheet

Previous Wine Industry Insight Articles And Documents On Winc:

Winc Files Holiday Onslaught of Bankruptcy Documents; Unsecured Creditors Fire Back On New Year’s Eve

Many More Details In The Full Document Links For Premium Subscribers

  • ECF100-Unsecured Creditors Objection To Final Order And Request For Adjournment – 123022.pdf
  • ECF47-Omnibus Proposal For Bidding Procedures & Deadlines
  • ECF47-2-Order-Winc-Proposed Bidding Procedures-120722
  • ECF47-3-Order-Stalking Horse Agreement-120722.pdf
  • ECF47-4-Winc – Sale Notice-120722.pdf
  • ECF47-Winc – Bidding Procedures-120722.pdf
  • ECF75-2-Creditors Committee-ExhibitB.pdf
  • ECF75-3-ExhibitC-creditorscommittee.pdf
  • Winc Bankruptcy – Creditormatrix.pdf