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For Tri-State Livestock News
At the end of January, Tyson Fresh Meats filed a lawsuit against one of the largest farming and ranching families in Washington, Easterday Ranches, in an effort to recover losses from fictitious fed cattle sales and feed costs. Additionally, Tyson was hoping to recover 54,000 head of cattle still standing in an Easterday feedlot north of Pasco, Wash. The lawsuit was filed in Franklin County Superior Court in Pasco.
On Feb. 1, days after Tyson sued Easterday Ranches, the ranching operation filed for chapter 11 bankruptcy in federal court. Official Form 204 in Easterday Ranches’ bankruptcy filings lists 20 of their largest unsecured claims. The top unsecured claim comes from Tyson Fresh Meats with at least $225 million. The second largest unsecured claim comes from Segale Properties at $8,647,408.57. All 20 unsecured claims add up to $236,671,645.
By Mackenzie Johnston, Reporter
At the end of January, Tyson Fresh Meats filed a lawsuit against one of the largest farming and ranching families in Washington, Easterday Ranches, in an effort to recover losses from fictitious fed cattle sales and feed costs. Additionally, Tyson was hoping to recover 54,000 head of cattle still standing in an Easterday feedlot north of Pasco, Washington. The lawsuit was filed in Franklin County Superior Court in Pasco.
On February 1, days after Tyson sued Easterday Ranches, the ranching operation filed for chapter 11 bankruptcy in federal court. Official Form 204 in Easterday Ranches’ bankruptcy filings lists twenty of their largest unsecured claims. The top unsecured claim comes from Tyson Fresh Meats with at least $225 million. The second largest unsecured claim comes from Segale Properties at $8,647,408.57. All twenty unsecured claims add up to $236,671,645.
Legendary Pasco Ranchers File Chapter 11 After Fraud Suit Filed
The issue began over a week ago, when Tyson Foods Inc. sued the Easterday Ranches operation, claiming they were defrauded over $225 million. The suit claimed Easterday Ranches, based out of Pasco, had bought, fed and cared for and provided over 200,000 head of cattle that never existed.
Easterday has been a Mid-Columbia farming-ranching institution for decades.
Now this week, on Monday, Easterday has filed for Chapter 11 bankruptcy protection.
For a number of years, Tyson reimbursed Easterday Ranches for the purchase and feeding of cattle at the Easterday lots; later the cows would be sent to the Tyson plant in Wallula. However, Tyson officials began to notice what court documents said were discrepancies.
Author of the article: Postmedia News
Publishing date: Feb 04, 2021 • February 4, 2021 • 1 minute read •
Article content
Tyson Inc. has accused Easterday Ranches Inc. of charging it for about 200,000 cattle that were never delivered.
The lawsuit has prompted Easterday to seek Chapter 11 bankruptcy protection from Tyson, Washington Trust Bank and other unsecured creditors owed about $238 million.
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Superior Court Judge Samuel Swanberg has approved Washington Trust’s request for a temporary restraining order against a separate entity, Easterday Farms, Inc., to prevent it from selling crops or assets, according to a report in The Spokesman-Review of Spokane, Washington.