I finally received a check from Premier Cru bankruptcy trustee. It was delayed because my office address had changed. I don’t remember what they originally owed me. Does anyone know what percent they paid to their general creditors?
Would you mind just hazarding a guess, or a guessing range, of what percentage you got back?
I got out at the 11th hour. I had some orders they weren’t going to fulfill when the house of cards was collapsing, I emailed many times and got no reply, then I called a bunch of times until I got someone on the phone, and I got them to substitute some bottles they had in stock (Huet Vouvrays and I don’t remember what else) for the outstanding orders.
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I got back around 1/3rd several years ago and the remaining 2/3rds right after SVB collapsed. My memory is fuzzy, but total claim was between $1000 and $1500. A tiny bit sad not to have received any of the 1999 Chave Hermitage but life goes on.
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I think I got back about 40%
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It was about 10% but priority claims (under 2k or so) got full. So a lot of people refiled their claims for 2k.
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It’s all in here.
In addition to priority going to the smaller claims, wasn’t there some preference where wine had been segregated with someone’s name on it? Or am I misremember that?
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I got 9% or close to that but I was only out a few hundred $.
Before the house of cards fell, I had been growing increasingly irritated and suspicious of their inability to fulfill my orders. I wasn’t following the WB thread on PC at that time although I wish I had much earlier. One day I noticed their on line inventory included a mixed inventory of Volnay I had ordered. I immediately called with message of “send now without delay” and followed up with an email. I got that case…….99 days before they declared and just outside the clawback window.
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There were a small number of people who had wine segregated for shipment but not yet shipped. They received those bottles.
There were a larger number of people told they had wine in the warehouse but not segregated and often with insufficient bottles (“over allocated”). There was a separate class action suit over those bottles that ended with a negotiated settlement where they received partial reimbursement and Trustee kept some (after selling the bottles in the warehouse). Percentages varied based on bottles level of over allocation (or not) and some other details. But, the reimbursement was roughly twice as high for those bottles.
-Al
I got about 9% back
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That’s why I didn’t even file a claim. My loss was somewhere in the $2000 range. It wouldn’t be worth doing the paperwork.
I charged all of mine back via MasterCard. At first they argued that the time had run out, but I looked into it and the rules said that the time limit was from the time the products were “promised” to be delivered. This was just after they filed, and they had very recently given me “expected arrival dates” over the phone (but would push the dates out every time I called). So I told MasterCard (and had at least one supporting email from Premier Cru saying the wines would arrive “soon”), and got a full refund. I think it was about $3500, in about 15 different transactions over a 2-3 year window.
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I received about 1/3 early on and just about the other 2/3 sent just after Signature Bank collapsed (check was from there dated a few days before FDIC took it over).
Total was about $1200, so I guess I was fortunately in the under $2k crowd on that fiasco.
I got a small check awhile ago; never got the rest yet; may be an address issue.