Draught Board closed by order of court

Gus Pearcy | The Lebanon ReporterORDER CLOSED: The Draught Board, 528 Lafayette Avenue, was closed by order of Boone Circuit Court. The liquor inventory was seized by the Sheriff's Office and the premises vacated. The bar had been in receivership since 2011 when the owners declared bankruptcy.

By order of the Boone Circuit Court, the Draught Board has closed after operating for several years in receivership.

According to court documents, CentreBank, formerly the Veedersburg State Bank, held a lien and appointed John Forbes as the receiver in 2011. The owners Andrew and Susan Butts, declared bankruptcy in 2011. At that time, the value of the property and assets, including the liquor license, was valued at $176,000.

Forbes was hired to preserve and protect the assets of the business, including the land. Forbes acted as the manager for the restaurant and bar at 528 Lafayette Avenue in Lebanon. The Butts continued to operate the restaurant. Andrew Butts died in August of last year in Sullivan. The property was to be sold off in a public sale last Halloween to Forbes for $150,000.

Forbes died in late March and had not sold the establishment.

Attorney Matthew Robinson of Yarling and Robinson in Indianapolis was appointed to replace Forbes. He petitioned the court to close the business because he had no expertise in running it and there wasn’t any money to hire a manager.

The court agreed and on Wednesday the Boone County Sheriff’s Office closed the Draught Board and confiscated all the liquor while taking possession and vacating the premises. The sheriff's department will hold onto the liquor until it hears from the court.

The order to close operations says Robinson can pay the employees if monies are available. Any funds left over would be used to pay bills.

Last March, the Lebanon Police Department was called to stand by as an equipment owner was removing leased equipment.