Aug 042010
 

Will the Fat Lady Finally Sing? CapRock Bids Are In – Judges Hearing at 2:30 Today (What’s the Scuttlebutt? How about the Rangers?)

The much anticipated announcement that will tell us the winner in the bidding for CapRock Winery (www.caprrockwinery.com) – for the second time – will take place today. The sealed bids were due at Williams Auction (www.williamsauction.com) by midnight last night.

Details of the CapRock Winery property and auction are given at:

www.williamsauction.com/caprock-winery-auction/caprock-winery.aspx

Attorney Max Tarbox likely has already reviewed the bid and is preparing his report for presentation to bankruptcy Judge Robert Jones’ courtroom in Lubbock at 2:30 pm today. For location, see:

www.bankruptcy-lawyers-dallas.com/judge_robert_jones.php

Earlier this week, I got an inside view of what is going on by talking to an unmanned principal in the transaction who said that the bidding for CapRock in this second round of auction action was “very active”. There were several new bidders that involved that were not engaged in the first round of bidding that was aborted when Laurent Gruet (www.gruetwinery.com) defaulted. Some of the new bidders have winery experience and have been reviewing business plans for running the CapRock facility as a functioning winery/tasting room, plans for distribution and marketing of the wines.

Well, not much else to do now, but wait for the “fat lady” to sing again this afternoon. Hopefully then, the suspense will be over [There has already been too much suspense at the expense of CapRock and its interested followers].

The purpose of the hearing this afternoon in Lubbock will be to review the winning bid with Judge Jones. Hopefully there won’t be two parties with the same bid amount. Additionally, the judge will review the auction proceedings and respond to any questions on its validity, and either approve or disapprove the CapRock sale.

Keep your fingers crossed for someone to secure the winning bid that has experience running a winery, a vision for CapRock’s future as a winery, and the pocketbook that can support this vision. Ben Simons from www.vinotology.com will try to attend the hearing. Ben, just don’t piss-off the judge with your video camera, but ask questions.

I will update you via Twitter when we hear something.

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Background: http://vintagetexas.com/blog/?p=2084

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My recommendation is to get past the theory that bad Injun’ mojo that supposedly haunts this winery that dates back to the Teysha Cellars days. However, let’s dump the statue over the doorway out in the middle desert anyway, just in case that’s where the Native American curse emanates. Then, please change the name of the winery, secure a share of this year’s bountiful Texas grape harvest, get in with a strong distribution partner dedicated to Texas wines, and give it another go.

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Stampede of lawyers returns to courthouse; auction under way soon? CapRock Winery – No; Texas Rangers Baseball Team!

A stampede of lawyers entered the federal courthouse at 1:30 p.m. Wednesday, indicating that proceedings in the delayed Rangers’ auction could get under way soon.

This has been worse than sitting through a rain delay at Rangers Ballpark. Read more: http://startelegramsports.typepad.com/foul_territory/2010/08/stampede-of-lawyers-returns-to-courthouse-auction-under-way-soon.html#ixzz0vfHFLPNc

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