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Courtesy of Franklin County, Wash. In southeast Washington, the welfare of more than 50,000 head of cattle is worrying Tyson Fresh Meats. Can the herd continue to be fed and cared for while the company set up to guard over them, Easterday Ranches, files for federal bankruptcy? “The immediate problem is the remaining 54,000 cattle, which have to be fed, managed, and grown to maturity for delivery to Plaintiff s processing plant [Tyson],” Tyson said in a superior court lawsuit filed last month, asking for a neutral third party to take over. “… financial distress (including insufficient operating cash and potential imminent dissipation of valuable assets), poses a significant and material risk to the health and value of the cattle. Moreover, there is real and significant risk to the public if proper care for the large herd is not maintained.” ....
Courtesy of Easterday Farms public Facebook page Updated Monday, Feb. 8, 2021, 5 p.m. PT The Easterday family spread unfurls across the Columbia Basin yawning onion farms, massive potato sheds, huge swaths of ground cut into pens for cattle and a fleet of employee vehicles and tractors. But the Easterday family has other assets: A million-dollar house in Phoenix and a private plane and hangar. Since December, Easterday Ranches has been embroiled in an alleged scandalous cattle rustling scheme. The charge: Easterday invented 200,000 head of cattle on paper. Major client Tyson Fresh Meats sued, asking for compensation of at least $225 million for the ghost herd. Days before the lawsuit was filed, the Easterdays sold one of their key properties a cattle feedlot called the “North Lot” in Franklin County to a competitor of Tyson for $16 million. ....
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. We apologize, but this video has failed to load. Try refreshing your browser. Missing cattle result in bankruptcy Back to video 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. ....
Lawsuit names Easterday Ranches in fraud eastoregonian.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eastoregonian.com Daily Mail and Mail on Sunday newspapers.