Jul 272010

Update: Gruet Backs Out of Caprock Winery Sale. New Auction and Press Conference Announced

I received a call from  Max Tarbox, attorney for the CapRock Auction Sale early this afternoon indicating the he has received permission from Judge Robert Jones to proceed with a new auction for the sale of the CapRock Winery.

Mr. Tarbox was informed by Laurent Gruet that he does not plan to go through with the purchase of the CapRock Winery despite that fact that he was the highest bidder in the previous auction for the winery held in Lubbock, Texas eariler this month.

The deadline for the new auction, which will be held by sealed bid, is midnight August 3, 2010. Judge Robert Jones will hold a hearing on August 4, 2010, regarding the new auction results and any potential contest of the new auction, since the usually notice period for such procedings will not be given.

There will be a press conference at CapRock Winery today at 2:30 pm at: 408 E. Woodrow Road, Lubbock, Texas 79423

Mr. Tarbox will be present along with representatives from the Williams & Williams auction house to make statements and answer questions.

More from Press Conference “Gruet Can’t Make 10% Payment”: http://vintagetexas.com/blog/?p=2023

Background: http://vintagetexas.com/blog/?p=2005

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