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Barrel Stop Winery Chapter 11 “can charitably be described as chaos” — Bankruptcy Trustee

Legal filings are usually tangled, obtuse and nuanced. So it was refreshing to read this one filed by the court-appointed bankruptcy trustee. Given its startling and uncharacteristic clarity, we decided not to paraphrase it, but to present it complete, untouched and unedited.

RESPONSE TO OBJECTIONS TO MOTION TO CONVERT CASE TO CHAPTER 7

“This chapter 11 case was filed on July 28, 2011. Thereafter, in what can charitably be described as chaos, the case inched along largely as a dispute between the Debtor and its two primary secured creditors until this Court appointed the Trustee on April 10, 2012.

“Upon her appointment, the Trustee conducted substantial due diligence. It soon became apparent, however, that no reorganization was in prospect, and no sale of the Debtor’s real property and related assets could be accomplished at a price sufficient to pay all secured debt in full, much less in a manner which would render any benefit to general unsecured creditors.”

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PREVIOUS WINE INDUSTRY INSIGHT COVERAGE OF BARREL STOP WINERY

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