Decision coming on new Viansa winery owner

By the end of this week, Sonoma Valley’s scenic Viansa winery is likely to have a new owner.

The fate of the popular tourist destination founded by Sam and Vicki Sebastiani is scheduled to be decided at an auction Thursday in bankruptcy court in Reno.

Only one outside bidder has come forward expressing an interest in purchasing the winery from the bankrupt 360 Global Wine Company.

Woodbridge Capital Partners LLC, of Santa Monica, has made an opening bid of $20 million for Viansa. The offer is less than half the $40.5 million opening bid made by the company’s largest creditor, offshore hedge fund Laurus Master Fund, according to Marty Brill, 360 Global’s Los Angeles bankruptcy attorney.

While it would be unusual for another bidder to step forward this late in the game, it is not unheard of, said Bruce Beesley, 360 Global’s Nevada bankruptcy attorney.

It would also be helpful for the creditors, most of whom are expected to get a mere 10 cents on the dollar in the deal. A second smaller class of creditors are expected to get 25 cents on the dollar.