Uvine: payment for creditors in doubt?
There are growing doubts as to whether creditors of collapsed wine broker Uvine will ever get paid.
Jim Budd moved from education to wine in 1988 and has written for Decanter since 1989. He is the former editor (1991-2015) of Circle Update, the newsletter of the Circle of Wine Writers. He writes the award-winning www.jimsloire.blogspot.com and is one of the five members of the Les 5 du Vin blog. Budd exposes the dangers of drinks investment on his award-winning www.investdrinks.org website, and complementary www.investdrinks-blog.blogspot.com blog. He also contributes to Hugh Johnson’s Pocket Wine Book, Wine Behind the Label and the Academie du Vin. Budd is a keen photographer – especially in the Loire.
There are growing doubts as to whether creditors of collapsed wine broker Uvine will ever get paid.
After investigation by the Serious Fraud Office (SFO) five employees of a St Albans wine company are go on trial for conspiracy to defraud.
Wine investment company Bordeaux Advisory has disappeared leaving investors chasing hundreds of thousands of pounds worth of wine that had been bought at ten times its real value.
Wine merchant PMH Wines Ltd has become the latest UK merchant to fail to pay Bordeaux négociants for en primeur wines.
Collapsed UK wine merchant The Cellaret failed to pay Bordeaux negociants for 2005 en primeur ordered and paid for by their customers, it has emerged.
Evans & Tate, Australia’s sixth largest producer has called in the administrators.
Chateau de Marmorieres in La Clape has become the latest victim of major fraud, with the theft of 18,000 bottles worth €50,000 (£34,000).
The long running Evans & Tate saga looks set to end following the announcement that a legally binding restructuring agreement has been signed.
After the collapse of a restructuring deal with bankers ANZ, struggling Australian producer Evans & Tate is being courted by two potential rescuers.
Proposals sent out to Uvine creditors last week offer them the chance to get 95% of their money back.
Uvine directors could face criminal prosecution on nine counts of financial misconduct following a recent administrators’ report to creditors.
After two wine merchants went bust last year, buyers of en primeur in 2007 need to make sure they safeguard their assets, says Jim Budd
EU regulations that allow En Primeur buyers to return their wine and demand a refund are under review and may be changed.
Customers who bought Bordeaux 2005 en primeur from collapsed wine merchant the Cellaret, still do not know whether they will get their wine.
London fine wine merchant The Cellaret will be put into liquidation next week.
ANZ Bank is to take a majority stake in struggling Australian wine producer Evans & Tate.
The board of Australian winery Evans & Tate today rejected the Yarraman Winery merger bid.
Two months after Yarraman Winery first launched its bid to take over Evans & Tate a decision appears finally in sight.
Australian wine group Evans & Tate has today turned down the takeover bid from Yarraman Winery.
Australian wine industry-watchers are waiting with increasing interest to see if Yarraman’s multi-million dollar bid for Evans & Tate succeeds.
Two UK company directors have been disqualified for 15 years for their part in an ingenious £80m wine and spirit investment scam targeting American doctors.