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Easterday Ranches and Easterday Farms
The firm represented Easterday Ranches and Easterday Farms in their chapter 11 cases in the United States Bankruptcy Court for the Eastern District of Washington.
The Easterday debtors operated significant cattle and farming operations, including farmland and orchards spanning approximately 22,500 acres over multiple farms and locations, as well as feed lot facilities for over 50,000 head of cattle, and related storage buildings, facilities, equipment, and other infrastructure. The “free-fall” chapter 11 cases required the firm to navigate a host of complex issues, including the postpetition operation of the debtors’ farming and ranching facilities, while conducting a value-maximizing sale and marketing process, with many material and active parties, including two official committees of unsecured creditors and the debtors’ equity holders.
Through the firm’s efforts, general unsecured creditors of Easterday Farms and Easterday Ranches were projected to recover approximately 100% and 80%, respectively, on their prepetition claims at confirmation. In confirming the Easterday debtors’ plan, the court remarked that the chapter 11 cases were a “great result” and a “triumph” of the chapter 11 process, despite the myriad challenges presented in the case.