A well-known whiskey brand is facing a $100 million lawsuit for allegedly failing to repay its loans, according to court documents.
Nearest Green Distillery – a Black-owned business in Tennessee that sells Uncle Nearest premium whiskey across the nation, from anywhere between $50 to over $100 per bottle – has been accused of breaching loan agreements with their lender, according to a suit obtained by WSMV.
Farm Credit Mid-America, which is based in Louisville, accuses the company's founders, Fawn Weaver and husband, Keith Weaver, of defaulting on multiple loans, refusing to hand over adequate information, failing to pay principal and interest payments, and using proceeds of a loan to purchase a $2 million Martha's Vineyard home while mortgaging the property to another lender.
The Weavers were sued in federal court on July 28, according to the court documents.
Farm Credit alleges a myriad of other wrongdoings and is demanding a repayment that includes accrued interest on loans amounting to $108,245,828.22.
The loans company says that Nearest Green Distillery has been “in default under the Loans since as early as January 2, 2024, and has continued to incur further defaults over the last eighteen months,” according to court documents.
The most recent default came as a revolving loan was not paid in full by the time it matured at the end of last month.
