By Tabitha Evans Moore | EDITOR & PUBLISHER
CHATTANOOGA — In a win for the defendants, United States District Court at Eastern District Judge Charles E. Atchley appointed Columbia attorney Phillip G. Young, Jr. of Thompson Burton, PLLC as the receiver in the Farm Credit Mid-America versus Nearest Green Distillery et al case on Friday. In a previous court appearance, the Weavers publicly stated their preference for Young over a team out of Texas.
He specializes in bankruptcy, receivership, creditors’ rights, commercial loan workouts, as well as complex commercial litigation and attended law school at Vanderbilt University. He’s also served as debtors counsel in other case such as Service Merchandise and Regal Cinemas.
“Each of the parties’ proposed candidates was well-qualified to serve as receiver in this case,” the order states. “The Court chose Mr. Young based on his extensive restructuring and bankruptcy experience, including regularly serving as a receiver
and representing both debtors and creditors; his familiarity with relevant Tennessee and Sixth Circuit law as a practicing Tennessee attorney; his physical proximity to Uncle Nearest’s operations which will enable greater oversight with minimal additional costs; and Defendants’ representations as to Mr. Young’s intent to collaborate with Fawn and Keith Weaver to preserve customer goodwill while fulfilling the receivership’s objectives.”
The 18-page ruling issued August 22 gives Young purview over the entire Nearest Green empire – including the Nearest Green Distillery property, the Eady Road property, intellectual property, bank accounts, contracts, and even litigation claims. Young now has broad legal authority under both Tennessee law and federal statutes to manage, sell, or otherwise dispose of those assets.
“For the avoidance of any doubt, this means Fawn and Keith Weaver may continue to market Uncle Nearest products and manage the Uncle Nearest brand, subject to the Receiver’s supervision,” the order states.
Mr. Young has been granted sweeping powers to oversee the company’s operations, finances, and records. He may retain outside professionals, take control of bank accounts, prosecute or defend lawsuits, and, if he deems it necessary, even file for bankruptcy on behalf of Uncle Nearest. While the brand’s co-founders Fawn and Keith Weaver may continue marketing the whiskey and managing brand identity, they must now operate under the receiver’s supervision.
The order also imposes strict restrictions on the defendants. Uncle Nearest and its affiliated entities are prohibited from selling, transferring, or interfering with assets without the receiver’s express consent. The company and its leadership must immediately hand over financial documents, business records, and access credentials to allow the receiver to take full control.
To protect the integrity of the process, the court ruled that the receiver will serve without bond and will not be personally liable for the company’s debts or obligations, except in cases of gross negligence, willful misconduct, or fraud. The receivership estate itself is required to indemnify and compensate Mr. Young and any professionals he employs, paying their standard hourly rates and expenses.
Finally, the court required the receiver to provide quarterly reports to both the lender and the court, detailing financial activity, operational status, and disbursements. The first of these reports is due October 1, 2025.
This is an ongoing story and The Times will report more details as they are available. •
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