Folks often find things that seem more interesting than they are. This was not a public company with a robust back office infrastructure and legal team. These filings are basic administrative requirements and it wouldn’t surprise me for one second if they failed to actually affect officer changes to the org docs and continued to electronically sign them simply because the forms were due. I have worked in companies without robust administrative functions. I don’t consider this finding by a forensic accountant to be particularly interesting.
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Hey CW,
you found a loophole, but after the 3rd time you should have probably put down the internet.
(I will admit getting a phone call from the guy is funny)
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You’re not wrong my friend, but I think I’d not call it a loophole so much as just a coupon code.
I think my curiosity got the better of me and I’d just check it out every month or so and see if the code was still working.
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Maybe this was the ‘disruptive technology algorithm’ that the Jeffs were so effusive about?
hmmm, I am deeply suspicious of that name. It is waaaaaaay too close for comfort to Phoenix Wine Company, LLC, my holding company for de Negoce. I can’t help but wonder where the F they got that name and why…better check my six.
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I guess I’m a gambling degenerate too, if playing any amount of poker makes one a degenerate.
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He saw your private jet and yacht in Bahamas and got jealous and decided to pull his own ponzi scheme 
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For those interested, here is the bankruptcy filing:
https://storage.courtlistener.com/recap/gov.uscourts.deb.189834/gov.uscourts.deb.189834.1.0.pdf
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And Jeff Shaw is trying a very shady come back…
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Not sure if anyone is following this still, but the court has approved an agreement in which a company is purchasing the remaining inventory. That company must provide former Underground customers with bottles in storage an opportunity to claim their wine. The kicker is customers must pay 21% of the purchase price, along with shipping. If you had bottles and kept inventory list, might be worth shipping some of the wine, especially upgrades where the purchase price was substantially lower than value. They are required to send a notice and customers must reply by a certain date, with all unclaimed inventory belonging to new company.
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Are you saying customers have to pay another 21% to get the wine they already paid for?
Correct, but it’s potentially better than nothing. Someone on Reddit typed up a good summary, which is where I saw the info. If anyone is interested, that summary is here:
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Thanks. I’m not invested, but I did see some stuff in the WSJ about this. However, I’m not a subscriber.
Sounds like that jackass “former” CEO didn’t get to buy back the inventory.
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Bump.
Anyone purchase clearance liquidation?
just placed an order for 5 cases, guess we will see!
It’s a wild inventory.
A lot of bs to sift through, but made off with probably a case and a half split with some other folks. Some great stuff still out there (see Deovlet, Bibbiano)
I didn’t really see anything I recognized in there. Curious what you guys found worth ordering.
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Furthermore RRV Pinot
Levo Grenache
Levo Syrah
Flaunt sparkler
NV Charles Ellner Cuvée de Reserve Brut
so far…