159-year-old whiskey brand files disputed Chapter 11 bankruptcy

The 159-year-old whiskey brand is , which has filed a disputed Chapter 11 bankruptcy amid an ongoing battle with its lender and a court‑appointed receiver.

Who filed and why it’s “disputed”

• The Chapter 11 petitions were filed in the name of Uncle Nearest, Inc. by founder and CEO Fawn Weaver on March 17, 2026, without the receiver’s consent.

• The company has been under a federal court‑appointed receivership since August 2025 after lender Farm Credit Mid‑America alleged default on roughly $\sim \$108\text{ million}$ of loans and credit lines.

• Receiver Phillip G. Young Jr. is now asking the bankruptcy court to dismiss the filings and seeking sanctions, arguing Weaver lacked authority to put the company into Chapter 11.

Capital structure and financial posture

• Court filings show about $13.2 million in unsecured obligations.

• The Farm Credit facility shows a principal balance of roughly $102.5 million, which Uncle Nearest disputes and intends to challenge through claims and counterclaims.

• These liabilities sit against estimated enterprise assets of about $529 million according to the Chapter 11 papers.

Process posture and potential outcomes

• Weaver’s stated goal is to use Chapter 11 to end the receivership, centralize litigation with Farm Credit, and protect other creditors and shareholders while pursuing reorganization.

• Prior rulings gave the receiver the authority to initiate bankruptcy; it is unclear whether Weaver’s petitions will be allowed to stand without the receiver’s or judge’s approval.

• Coverage notes that if the dispute over control continues or the restructuring fails, a Chapter 7 liquidation of Uncle Nearest is a possible next step, though not yet ordered.

Brand background

• Uncle Nearest markets Tennessee whiskey honoring Nearest Green, the formerly enslaved distiller credited with teaching Jack Daniel how to make whiskey and creating the original Jack Daniel’s recipe.

• The brand’s “159‑year” framing ties to Green’s mid‑19th‑century whiskey legacy rather than the 2010s launch of the modern company.