PASCO, WASH. – Easterday Ranches, based in Pasco, Wash., filed for Chapter 11 bankruptcy protection with the Eastern District of Washington.
In late December, the cattle company was sued by Tyson Fresh Meats, the beef and pork processing subsidiary of Tyson Foods Inc., over allegations that Easterday falsified documents to receive reimbursement of at least $225 million in connection with some 200,000 cattle that did not exist.
Easterday Ranches sold one of its feed lots to Boise, Idaho-based AB Livestock LLC for $16 million a few days before Tyson filed its lawsuit. The feed yard can hold 25,000 head of cattle. The sale was announced on Jan. 29.
Tyson has asked for a court-appointed receiver to take control of Easterday Ranches assets. The meat producer previously said it still has 54,000 head of cattle that it owns on Easterday land.
According to the bankruptcy filing, Easterday Ranches lists debts and assets between $100 million and $500 million. The filing also showed 20 large outstanding debts for Easterday.
The entire Chapter 11 filing can be seen here.