YAKIMA, Washington â Two major creditors Wednesday, July 14, dropped their opposition to the sale of Easterday farms, clearing the way for the Mormon church to buy an Eastern Washington family farm brought down by debt and fraud.
Prudential Insurance Co. and Equitable Life Insurance agreed to withdraw their objections during a mid-hearing break in U.S. Bankruptcy Court in Yakima. In return, they are guaranteed to receive most, if not all, of the millions of dollars owed them by Cody Easterday, his wife, mother and their companies.
The parties, returning from the closed conference, outlined the agreement to Judge Whitman Holt, settling a dispute that had threatened to block the $209 million acquisition by Farmland Reserve Inc., affiliated with the Church of Jesus Christ of Latter-day Saints.
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3 slides Credit: Anna King/NW News Network
As Easterday Family Property Is Auctioned, Giant Buyers Attracted To Water-Rich Deal May 04, 2021
Redtail hawks glide off telephone poles sailing above verdant fields that scoop downward along a basalt slope to the bending Columbia River.
This unique swath of ground is about to get a new owner; the roughly 12,000 Easterday family acres in Benton County are to be auctioned off starting in mid-June.
The crisis that began with a massive swindle of 225,000 ghost cattle has meant federal charges for Cody Easterday and bankruptcy for a family farming and ranching dynasty as the vast Easterday empire unravels.
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