Possibly Re London Wine Co (Shippers) Ltd (1986).
However the Sale of Goods Act was amended in 1995 and it is now possible to own a share of an identifiable bulk (eg x cases of champagne), where your purchase of y cases is provable but unascertained (eg your cases in the bulk are not so marked). This would prevent seizure by creditors if TWS went bankrupt.
I’m actually having related fun at the moment. I had some EP Bordeaux from FromVineyardsDirect, which recently went into receivership. This has led to lots of fun, especially with the still in France wine (which mine is).
Thankfully the company that took over their business (or rather the name/goodwill et cetera) has done a good job in sorting it out and looks like I’ll be getting my wine without too much faff/legal action.
Moral of the story is of course be very careful where you buy from EP!
Over thirty years ago…digital world has moved on somewhat since then.
The possibility for WS is remote looking at current balance sheet, but for some companies, it’s a more realistic risk.
Counterparty risk is something often either ignored or not even thought about by some who are new to EP, and even some who aren’t!
These are not companies we ever get to see the books of. Even if we could, the nature of the time lengths involved means that a few bad years could put pay to, for example right now, 2016 purchases.
Also in that boat, though glad it wasn’t for much and hopefully all sorted shortly.
Sadly I suspect there are very few wine merchants with the equity to withstand a couple of bad years. It does make me more likely to concentrate EP purchases with TWS though!
I shall keep fingers crossed for you. My '16s are all now sorted and my '17s have everything but the Sauternes.
Definitely with you on the now focusing on TWS for EP from now on.
Sorry to be completely dumb on this, and certainly not trying to make any assertions.
What protection do we have relating to reserves should TWS go bankrupt at some point over the next 50 years.
I’m sure this is clearly answered somewhere but I couldn’t quite see it.
Post 10 upthread covers it, assuming it refers to all wines in the members reserve.
Some nice OWCs right there
Chasse-Spleen is one of my favourites!
You have to be very patient with Chasse Spleen don’t you. 2026 is the start of the drinking window for this one.
Worth the wait though, I agree. I have some 2009 which is yummy.
Yes, I figure 10 years at least. I have 1 '09, 3 '10s, a '12, 3 '15s and then I’m on to my very first EP order with 6 '16s. Will be drinking the '09 in the next couple of weeks.
What d’Arenberg have you got ? Dead arm ?
Yes, it’s quite an old fashioned claret with stuffing…a favourite of mine…have had the 93, 95, 2000, 2003 (just finished), 2010, and 2015 is in reserves. I haven’t broached the 2010 yet though, which I took out of reserves a year or so ago.
It’s the Wild Pixie Shiraz 2015 which was in the “small wonders” VCP. I got the Dead Arm 2012 a few years back in the “world classics” plan and Magnums of the Footbolt Shiraz 2016 before Christmas.
Just added this to my basket which sounds intriguing.
I’ve drunk 2 of my 6 bottles of Chasse-Spleen 09.
In my (very) humble opinion it seemed closed and lacked the generosity of the other vintage I’ve had which was the 08.
Have tucked the remaining 4 away and will revisit in a couple more years.
Picked up a bottle of this recently, didn’t reliase it had Roussanne in it, looking forward to trying.