Jamieson Ranch
Jeff Manning advised a Caymans Island-based Liquidating Trustee on an out-of-court expedited sale for Jamieson Ranch Vineyards.
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Surrounded by hundreds of acres of hills and vineyards, Jamieson Ranch is the southernmost winery in Napa Valley. With “flash détente,” the winery upholds its reputation for producing several award-winning Pinot Noirs, Cabernet Sauvignons, and Chardonnays. Brands include Light Horse, Double Lariat, Stagecoach, Silver Spur, Whiplash, and Reata Pinot Noir.
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Sale of Assets: The assets were sold in two blocks – the real estate portion, and the ongoing business, including inventory and intellectual property. Total proceeds exceeded $22.0 million
Challenges During the Sale: Weeks after the launch of the sale, some 69 acres of vineyards were pulled from the ground by an unscrupulous private equity owner, unbeknownst to CRC. CRC also uncovered self-dealings and material non-disclosures. The private sponsor had also failed to make tax payments and keep licenses current.
Joint Sale: The expedited sale was a joint effort with Nexia TRI group, under the instruction of insolvency practice, RHSW Caribbean.
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-Provided strategic advice and valuation expertise, resulting in a successful sale and optimal returns for investors.
-Monitored the marketing process and kept Limited Partners in the information flow.
-Advised on litigation against the private sponsor, resulting in their termination and eventual settlement of litigation.