Kirkland Ranch Winery, on Jamison Canyon Road, has filed for protection and reorganization under Chapter 11 of the bankruptcy code, which essentially blocks an action to foreclose on a loan.

Kirkland Ranch also filed a suit against 360 Global Wine, the company that assumed half-interest in Kirkland after 360 Global had signed on as guarantor of a loan from Metropolitan Life. The loan was for about $20 million, and Met Life indicated it was about to foreclose.

Larry Kirkland was quoted in winebusiness.com as saying, “They (360 Global) had 100 percent control of our distribution and they were not selling wine. They also had 100 percent responsibility for paying Met Life, which they did not do after December of last year.” He added, “They have been leading us along with a plan of buying 100 percent of the winery for about nine months now.”

Kirkland Cattle Company also filed for bankruptcy protection, because the ranch was collateral for the Met Life loan.

360 Global Wine recently reported a loss of $24.2 million, while showing only $8 million in revenue. CEO Jake Shapiro told the Register that the losses reported were almost all non-cash and are the result of accounting treatments related to a public company. These included stock transactions relating to compensation of employees, directors and consultants, and marketing sponsorships.

The company, founded in 2002, was formerly known as Knightsbridge Fine Wines, but changed its name in February, 2005. It continues to own Viansa Winery & Italian Marketplace in Sonoma County.