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CATTLEGATE: 2 Land Titans Vie For Massive Swath Of Easterday Property In Southeast Washington
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Nearly 12,000 acres of Easterday family farmland in Benton County will likely sell for more than its $210 million asking price, according to court documents and sources with knowledge of the deal.
Two big players are vying for the sweeping property near the Columbia River: Farmland Reserve’s AgriNorthwest, which is backed by the The Church of Jesus Christ of Latter-day Saints, and Seattle-based Bill and Melinda Gates’ Cottonwood Ag Management.
The highest bidder will be confirmed at a bankruptcy auction held next week.
The deal is subject to the federal court’s sale hearing on July 14.
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.
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