George Boardman

Local News
July 21, 2004
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Winery faces its creditors

Indian Springs Vineyards of Penn Valley is considering selling some of its property while it wrestles with its creditors in U.S. Bankruptcy Court over who should get $600,000 owed to the business.Indian Springs filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code on June 15, just hours after PremierWest Bank of Medford, Ore., sought to place the vineyards and winery in receivership for allegedly defaulting on over $4 million in business and personal loans.PremierWest alleged in its original complaint that Indian Springs was in default on two loans worth almost $3.3 million and that general partner Dennis Ball …

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The Union Updated Jul 21, 2004 11:22PM Published Jul 21, 2004 12:00AM Copyright 2004 The Union. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.