Inertia Beverage Group (IBG) on May 24, held the initial closing of its latest multi-million-dollar funding round intended to keep it alive until it can begin to sustain itself from operations. According to insiders associated closely with the latest deal, the new round was “necessary to the future of the company” because of expenses associated […]
Fraud, Mismanagement Allegations Plague Ascentia
May 17, 2010
While prospects for insolvency have captured the attention of those following the W. J. Deutsch’s lawsuit against Ascentia Wine Estates (AWE), the process has unleashed a series of corporate mismanagement allegations against CEO Jim DeBonis. “Eight Estates [a former name for AWE] may or may not be insolvent in a purely technical sense,” said one […]
Vin-Go Still A Go Despite Arrest of COO
May 6, 2010
Vin-Go LLC, a Napa-based wine compliance and shipping start-up is still a going concern despite the recent arrest of its Chief Operating Officer said the company’s majority shareholder James Delaney. Vin-Go COO Michael J. Steinhauer was extradited Tuesday to Charlotte Amalie on the island of St. Thomas to face embezzlement charges brought against him by […]