Copia Status Hearing, Creditors Meeting Set

December 23, 2008

U.S. Bankruptcy Judge Alan Jaroslovsky has scheduled a status conference in the Copia Chapter 11 proceedings for January 9, 2009. The hearing will be held at the court at 99 South E St. in Santa Rosa. In addition, Judge Jaroslovsky extended Copia’s deadline for filing its financial statements until January 5. The original deadline had […]

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Sebastiani/Foley Acquisition Update

December 22, 2008

The CIA has nothing on Sebastiani when it comes to keeping confidential information secret. However, Sebastiani Vineyards and Winery did offer a few more details in a news release today which WII’s Saturday article did not contain. According to the release, Credit Suisse Securities (USA) LLC acted as exclusive financial adviser and Sheppard, Mullin, Richter […]

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Real Estate And Credit Crisis Catches Up With Wine Industry – Part 1

Vineyard and winery sales data show that the real estate meltdown began to hit the wine industry around the first of August this year. In addition, five real estate brokers and finance experts confirmed that the downturn has made deals harder to close, and is likely to reach crisis proportions for the most highly leveraged […]

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Sebastiani Winery Sold to Foley Wine Group

December 20, 2008

Sebastiani Vineyards and Winery has been sold to Santa Barbara County-based Foley Wine Group. The pending sale was announced Friday night by Richard A. Cuneo, chairman of the Sebastiani board. The transaction comes amid the beginnings of a sag in real-estate prices as effects of the global recession begin to depress winery and vineyard values. […]

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Gallo’s Proposed Boundaries For Expanded Russian River Valley AVA Violate Federal Regulations

December 18, 2008

E&J Gallo’s proposed boundaries for an expanded Russian River Valley AVA violate federal regulations, according to a Wine Industry Insight investigation based on TTB documents, on-site topological examinations, Google Street Views, U.S. Geological Survey maps and numerous other documents and sources. Regulations issued by the Alcohol and Tobacco Tax and Trade Bureau (TTB) require petitioners […]

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TTB’s Appellation System Dysfunctional, Outdated – Designed for Insiders

December 16, 2008

Note: Links to a full-scale and detailed map and a .pdf of the entire Gallo proposal are below. “I note, and object to the fact that the application of the petitioner [E&J Gallo] is not publicly available for review and comment. Although certain information is quoted in the [TTB] Notice [#90 to expand the Russian […]

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Gallo’s Two Rock Vineyard – Lack of Transparency Questions Legitimacy of Process

December 15, 2008

Looking at the TTB’s process for expanding the Russian River Valley AVA shows a lack of transparency, bureaucratic disorganization, fractured filings and missing information. The chaotic and obscure character of the process makes it more probable that the TTB’s decision will be made on the basis of spin, hyperbole, lobbying and hearsay rather than on […]

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Copia Headed For Liquidation

December 12, 2008

As WII reported on Tuesday, Copia’s board is looking for an orderly wind-down, is headed for liquidation, and is unlikely ever to open again. “It’s over,” one board member told Wine Industry Insight Friday morning. “We’ve met; we’ve talked; we’ve come up with no options other than an orderly end. Copia previously locked its doors, […]

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