Lawsuit To Asset Sale: Inside The 'Uncle Nearest' Bankruptcy—Whiskey Brand That Honours Jack Daniel's Teacher
Nathan Nearest Green had famously taught Jack Daniel, who went on to establish Jack Daniel Distillery, currently one of the most famous whisky in the world.
Uncle Nearest, a Black-owned whisky brand in the United States, is on the verge of bankruptcy following a string of misadventures, including defaults, lawsuits and an ongoing legal battle.
The brand, which formed in 2017, honours 159-year-old distilling pioneer Nathan 'Nearest' Green, an enslaved man who became the first known African American master distiller in the US, back in the 19th century.
Nathan Nearest Green had famously taught Jack Daniel, who went on to establish Jack Daniel Distillery, currently one of the most famous whisky in the world. But while Jack Daniel has become a household name in the world of liquor, Uncle Nearest is struggling to survive due to financial turmoil.
Troubles stem from a £70.4 million loan default lawsuit filed on Aug. 4, 2025, by its senior lender, Farm Credit Mid-America. The suit, which also names founders Fawn and Keith Weaver, alleges defaults on loans and lines of credit dating back to May 2024.
This led to a US District Court judge placing the whiskey company into receivership on Aug. 14, 2025. As such, Phillip G. Young Jr. was appointed as receiver to manage its assets and stabilise operations.
The brand's founder, Fawn Weaver, has publicly accused the lender of a "calculated smear campaign", alleging that Farm Credit "twisted a Martha's Vineyard property buy into fraud claims to seize control" of the company, IB Times report.
An August 2025 court filing by Weaver and Uncle Nearest countered that the lender had failed to perfect its security on seven of eight real estate pieces, including the Vineyard home.
However, the court-appointed receiver reported on Oct. 1, 2025, that he found "no evidence of misappropriation, theft, [or] financial impropriety" by the founders or current staff.
That being said, the report noted the company has "significant value" and that the odds of emerging from receivership are "very good".
As part of the restructuring exercise, the receiver is currently targeting the sale of its non-core assets in an attempt to raise liquidity.
Some of these assets include Weaver-owned French vineyards, a Cognac chateau, a vodka brand and the disputed Martha's Vineyard property. The company's cash-strapped cognac line is being abandoned for obvious reasons.
The receiver, who has already secured £1.63 million in short-term funding, is aiming to refinance or sell the company by the first quarter of 2026. While the core whiskey business endures, Chapter 11 bankruptcy remains pretty much an option, even though no filing has been made.
