The Premier Cru Bankruptcy
March 6, 2016
Guest blogger, LEX VINI Blog published by Dickenson Peatman & Fogarty
On January 8, 2016, Fox Ortega Enterprises, Inc. filed for Chapter 7 bankruptcy in the Northern District of California. The debtor, operating under the name Premier Cru, was a seller of fine wines in Berkeley, California, and well known for selling rare and fine wines at price points much less than the competition. The debtor’s owner John Fox, who has also filed for bankruptcy protection, is also apparently under criminal investigation by the FBI. See, for example, Troubles Mount for Premier Cru as FBI Steps In . Various publications have accused Premier Cru of running a Ponzi scheme, which will be interesting to follow as that investigation unfolds.
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