Group interested in acquiring Uncle Nearest assets

2:17 p.m. Jan. 8, 2026

DUANE CROSS
MCO Publisher•Editor

An investor group has officially shown interest in buying Uncle Nearest, Inc.'s assets and settling its debt. This move is part of the ongoing federal receivership case in the Eastern District of Tennessee, according to a court filing on Thursday, Jan. 8.

Walter Miles, general partner of NexGen2780, LP, sent a letter to U.S. District Judge Charles E. Atchley Jr. In it, Miles told the court that the group wants to buy Uncle Nearest and pay off its $108 million debt to Farm Credit Mid-America.

The filing says NexGen2780 was created to handle the court-supervised debt resolution and possible purchase. Miles explained that the group includes both individuals and institutions, and that the institutions have a long track record with many deals in different industries.

There is no listing for Walter Miles on BrokerCheck, the Financial Industry Regulatory Authority (FINRA), which lets investors research the professional backgrounds, qualifications, and disciplinary history of brokers, brokerage firms, and investment adviser firms. His email address on the letter is a gmail.com account, not a business account.

• Expression of Interest in Acquisition

What is NextGen 2780?

According to Georgia public records, NexGen 2780 is a Georgia Domestic Limited Partnership filed on June 11, 2025. The Registered Agent on file is Chuck Speed.

A domestic limited partnership (DLP) is a type of business set up under state law. It has at least one general partner, who runs the business and is personally responsible for its debts, and at least one limited partner, who invests money but is only liable up to the amount they invest and does not take part in managing the business.

"Domestic" means the partnership is formed in the state where it operates. This structure allows limited partners to invest without risking their personal assets, provided they do not become involved in management. General partners, on the other hand, manage the business and assume the financial risks.

Speed is the founder and CEO of Kurai Ventures, LLC, a “management firm focused on building and scaling innovative brands within the adult beverage, consumer goods, and hospitality industry,” founded in 2023, according to its website.

Among its clients are:

• Château Fillon, a family-owned vineyard in France’s Bordeaux Terroirs
• Vie de Rêve, a sparkling wine company based in Italy
• Moedi Wines, launched to “bring part of Africa to world through wine”
• Mur Mur, a rum company sourced from various Caribbean Islands
• Algodon Fine Wines, based in Argentina
• Tuck, a modern boutique gin brand

Miles’ letter states that the deal would pay off the Farm Credit Mid-America debt, provide working capital, cover court and receivership costs, and offer a fair exit plan for current equity holders. The court and its appointed receiver would still need to approve any deal.

Miles also raised concerns about the length of the receivership, stating that prolonged proceedings could hurt the company’s value by damaging its brand, relationships with vendors and distributors, employee retention, and market position. He said a quick, organized sale under court supervision could help preserve value and improve recovery for creditors and stakeholders.

Options for current equity holders

Under the proposal, the full $108 million obligation would be recognized and administered by NexGen2780 for repayment, restructuring, and operational continuity, with potential adjustments to working capital, receivables, and inventory in accordance with generally accepted accounting principles.

The Letter of Intent also says current equity holders would have options such as redemption, a buyout using sale proceeds, or retaining some interests if the court approves. The process aims to finish within 90 days.

Miles said that NexGen2780 had already shared its interest with Farm Credit Mid-America, Uncle Nearest, and the receiver in October 2025. He described the current filing as a way to keep things transparent and open for any court process the receiver decides on.

The Letter of Intent is explicitly non-binding and states that no party would be obligated unless and until a definitive agreement is negotiated, executed, and approved by the court.

Uncle Nearest remains under federal receivership as proceedings continue.