Wednesday, February 3, 2021

Missing cattle result in bankruptcy

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 fromTyson, Washington Trust Bank and other unsecured creditors owed about $238 million.

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.

Two hundred thousand is a lot of missing cattle.