|VIP 2016 ISSUE 1 - Wine Executive News VIP Briefing - January 20, 2016 The complete, text-searchable document listing all of Premier Cru's 5,000+ victims Free "Wrath of Grapes" - A Happy-New-Year Bonus For Wine Executive News Premium Subscribers
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VIP Wine Executive News Member Briefing
Editor & Publisher, Lewis Perdue
2016 Issue #1 - January 20, 2016
The complete, text-searchable document listing all of Premier Cru's 5,000+ victims
The Premier Cru implosion and subsequent Chapter 7 bankruptcy filing have left a lot of jaws dropping, especially a court filing that shows the company with assets of about $7 million and debts of more than $70 million-- almost all of which is unsecured and will be crammed down to breathtakingly small levels.
In addition, the articles note that there are more than 5,000 unsecured creditors -- people who paid in advance for fine wine that was never delivered.
A number of very well-written articles have been published about the debacle. One of the best ones that I have included in my daily email News Fetch is this one from Wine-Searcher: Customers Left High and Dry as Premier Cru Folds.
Wine-searcher notes that, "The list of creditors demonstrates that it wasn't just the unwary and inexperienced who were caught up in Premier Cru's web. Venture capitalist Arthur Patterson of Accel Partners is listed as being owed $836,000, while Credit Suisse First Boston executive vice-chairman Adebayo Olungesi is owed almost $500,000."
One thing missing from that and the other articles is a complete list of the 5,000+ creditors.
For that reason, I have created for you a text-searchable version of the 1,401-page court document that lists all of the creditors.
Please click here to access your document. The link and password necessary will be at the bottom of that page.
Remember, every premium article written is always available for you any time at the Wine Executive News home page.
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