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Ofosuhene Ofori-Duah, the sole director of wine investment firm Vintage International Ltd (Vintage), has been banned from being a UK company director for 9 years. An investigation by the Insolvency Service’s Company Investigations Team found that he caused ‘Vintage to trade with undue risk to its clients’.
Only months after the creation of the new Malibu Cast AVA, winemakers are battling with local authorities to stop a ban on new vineyard plantings coming into force.
The world's highest wine launch took place last weekend, August 8, on the peak of Mount Ararat in eastern Turkey. Winemaker Zorik Gharibian launching Yeraz on Mount Ararat (Image: Hakob Houhannisyan) At a height of 5,137 metres, Zorik Gharibian winemaker at Armenia’s Zorah Wines launched their new cru wine, Yeraz.
Organisers of the Naples Winter Wine Festival have unveiled the lineup for January's charity wine auction event taking place in Naples, Florida, which includes a host of world-renowned winemakers. The event will see 41 top wine names participating in the festival with famed Italian winemaker Marchese Piero Antinori selected as the event’s Honored Vintner.
Wine investment company, Encarta Fine Wines Ltd, has gone into liquidation with sums due to creditors estimated at between £3.5 to £3.8 million. The creditors’ meeting, held today in Bexleyheath, London, confirmed Encarta has stock valued at around £1.7 million held at London City Bond, which is estimated to realise about £1.3 million if sold.
Penfolds and Rosemount owner Treasury Wine Estates could soon be at the centre of a bidding war after attracting a second offer to buy the company. Following the A$3.4bn joint bid by private equity groups Kohlberg Kravis Roberts (KKR) and Rhône Capital last week, the company said another unnamed ‘global private equity investor’ had matched the bid, which values Treasury at A$5.20 a share.
An analysis of investing in French wine by researchers from the Montpellier Business School has found that gold is a more profitable investment than wine in general, unless your portfolios contains top Bordeaux estates.
Vignobles Ducourt, which owns 440 ha in the Bordeaux region, has planted its first 'no spray vineyard' consisting of grapes crossed with disease resistant varieties.
Stricken Premier Cru Wine Investments Ltd has offered its customers transfers to rival investment firm Cult Wines, which has proposed using the Bordeaux 2013 vintage to fill any shortfalls in buyers' accounts.
Federal district judge Richard Berman also ordered Kurniawan to pay $28.4m to victims of his fine wine scam, after prosecutors spent recent weeks working to identify Kurniawan fakes in collectors' cellars. That is on top of the $20m that Kurniawan - also known as Mr 47 and Dr Conti - must forfeit to the court.
Wine fraudster Rudy Kurniawan is set to be sentenced later today after prosecutors worked round the clock to identify more fake fine wines made in the Indonesian's Los Angeles kitchen.
Russia may restrict wine imports from the European Union in a sign that winemakers are becoming embroiled in heightened political tension between the two sides. Esse vineyard in Crimea A spokesperson for Russian president Vladimir Putin has said officials will meet on 20 August to consider restricting the flow of wines from the EU.
Winemakers in lesser known regions need more than good terroir and money to emulate famous names like Bordeaux, Champagne and Rioja, argue researchers in a new book on the 'wine cluster effect'.