Winery center gets court OK to use income to pay expenses
By Celia Lamb 2008-12-14 23:42:31
A Lodi winery complex has gained approval from bankruptcy court to use income to pay ongoing expenses while it tries to sell the property.
Copperford LLC is negotiating the final terms of sale for the real estate and winery operation for up to $12 million, according to a document filed with the court Nov. 12.
Copperford, which does business as Vino Piazza, filed for Chapter 11 bankruptcy protection Nov. 4. The company owns 23 acres near Lodi, including a winery plaza with space for up to 12 wineries and two restaurants, documents said.
Karyn and Don Litchfield, who own Copperford, also own Olde Lockeford Winery, which is in the winery complex. The Vino Piazza property, at 12470 Locke Road in Lockeford, was appraised at $10.25 million in Jul
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