Weavers sacked from Uncle Nearest amid federal investigation
Uncle Nearest’s co-founders, Fawn and Keith Weaver, have been dismissed from the company, as its receiver disclosed he is cooperating with ongoing federal investigations.
The American whiskey business was placed under the control of Phillip Young Jr in August 2025, following a US$108 million lawsuit from Kentucky lender Farm Credit Mid-America. Last week, Young filed a counterclaim against the lender, arguing its failures helped the alleged fraud remain under the radar for years.
As part of his most recent update, Young detailed the legal challenges brought by the Weavers during the past quarter. These included their dismissed bankruptcy filing and attempts to terminate the receivership.
Furthermore, the receiver recently received subpoenas for documents from the United States Attorney for the Southern District of New York and from the Securities and Exchange Commission. He said the receivership team is cooperating with the investigations.
Young terminated the Weavers’ employment with the company on 1 June. He has since worked to restrict their access to the business’ facilities and systems.
He added: “While this decision was not made lightly, it has resulted in significantly less confusion among employees and vendors, and has made business operations significantly smoother.”
Sales process continues
Meanwhile, Young confirmed he is continuing with the sale of Uncle Nearest’s property on Martha’s Vineyard in Massachusetts.
The original buyers cancelled their contract on 2 July as a result of “the delay in the process and the continued litigation by Keith and Fawn Weaver”; however, Young has since negotiated a new contract with an “arm’s length” buyer.
In addition, he has received a “reasonable cash offer” for the company’s vineyards in Cognac, but not for the chateau.
The negotiations for the rest of the business assets are ongoing. Young had previously revealed that the interested buyer was an investment firm with African-American ownership.
The receiver is also evaluating whether to file a pre-packaged Chapter 11 bankruptcy to facilitate the sale of the company’s assets.
Keith Weaver’s two restaurant concepts in the Nearest Green Distillery, Shelbyville Barrel House and Humble Baron, are also facing eviction due to rental arrears.
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