CHATTANOOGA, Tenn. — Two new filings were entered Tuesday in the federal receivership case involving Uncle Nearest, Inc., as the court-appointed receiver asked to keep portions of the proceedings confidential and to slightly adjust upcoming reporting deadlines.

In the first filing, receiver Phillip G. Young Jr. requested permission to file his response to a pending motion for reconsideration under seal. According to the motion, the response incorporates findings and conclusions from the receiver’s previously sealed Second Quarterly Report. The receiver argued that public disclosure of the material could jeopardize ongoing efforts to refinance company debt or sell assets, and could also affect the value of the business while those efforts are underway weaver_0113262.

The receiver told the court that all parties to the case, including counsel for Farm Credit Mid-America, PCA, will still receive unsealed copies of the response, meaning access would remain intact for litigants even if the document is not made public. He also cited concerns that disclosure of information related to potential litigation could negatively impact the receivership’s objectives if revealed prematurely weaver_0113262.

In a separate filing the same day, the receiver asked the court to modify the schedule for future quarterly reports. He requested moving the remaining 2026 reporting deadlines from April 1, July 1, and October 1 to April 10, July 10, and October 9, respectively. The motion states that the additional time would allow the receiver to close the company’s books more accurately and provide more complete financial information to the court Weaver_0113261.

The motions come as the receivership continues amid parallel litigation in state court involving the company’s founders and a former executive. As of Tuesday, the court had not ruled on either request.

What This Means

The latest filings suggest the receivership has entered a sensitive phase focused on stabilizing the company rather than litigating disputes in public view. By asking to keep certain filings under seal, the receiver is signaling that negotiations over refinancing or a potential asset sale are ongoing and could be affected by public disclosure.

At the same time, the request to adjust the reporting schedule indicates the receiver wants additional time to ensure financial reports are complete and accurate as the court weighs next steps. Together, the motions point to continued behind-the-scenes activity aimed at preserving value while the broader legal disputes continue through the courts.

According to the documents, the Weavers have one week to reply to today’s filings. Pending their response, the judge could make a decision on whether to continue the receivership or possibly call a hearing.

This is an ongoing story and The Times will keep you updated.•

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