CDFA/MEB Investigating Grape Payment Complaints Against 9 Wineries

June 30, 2011

The California Department of Food and Agriculture‚Äôs Market Enforcement Branch has received verified complaints against nine winegrape processors. In addition, the MEB has issued prosecution updates for two other cases now pending in Sonoma and Alameda Superior Courts. LIST OF VERIFIED COMPLAINTS BEING INVESTIGATED Grapewagon Corp., Healdsburg, Saintsbury, Napa, Selby Winery Healdsburg, Summerwood Winery & […]

Lolonis Winery Melts Down, Growers Scramble To Get Paid $1.1 Million+

June 22, 2011

The precipitous meltdown of Mendocino County’s Lolonis Winery has left growers scrambling to recover whatever they can of more than $1 million in unpaid winegrape bills. And while grower liens may offer some partial comfort, they will need to fight to recover anything at all in the upcoming Superior Court battle over the winery’s liquidation. […]

Hong Kong Tycoon Offers $40 Mil For Napa Valley Winery & Vineyard

June 9, 2011

Hong Kong investment and factoring company Goldin Financial Holdings (HKEX:530), said Wednesday in a public filing that they were acquiring an as-yet-unidentified Napa Valley vineyard and winery for $40 million and that the deal was expected to close today. The Goldin filing also stated that the “book value” of the entire deal is $14 million. […]

Rabo Agrifinance Owed $30Mil+ By Olsen Ag, Raises Objections That May Threaten Bacchus Funding

June 5, 2011

Rabo Agrifinance (Rabo) — is owed more than twice the amount apparent in Olsen Agricultural’s incomplete initial filings — and has objected to the blanket use of cash collateral secured by its loans. Judge Elizabeth L. Perris of the U.S. Bankruptcy Court for the District of Oregon, on Friday agreed with Rabo’s objections and has […]

Oregon Grower’s Survival Hinges on Quick Approval of High-Interest Bridge Financing

June 2, 2011

The immediate survival of bankrupt Willamette Valley grower Olsen Agricultural Enterprises (“Olsen Ag”) depends on quick court approval of a plan to use secured receivables to finance a multimillion-dollar Debtor-In-Possession financing plan. The company filed for Chapter 11 protection June 1 in U.S. Bankruptcy Court for the District of Oregon. Rabobank, Olsen Ag’s largest single […]