Easterday Ranches seeks 120-day extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Sept. 29 – Easterday Ranches, Inc. is seeking an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Tuesday with the U.S. Bankruptcy Court for the Eastern District of Washington.

Specifically, the company asked the court to extend the plan filing period through Feb. 3, 2022 and the solicitation period through April 5, 2022.

Easterday sold substantially all of its assets, generating over $220 million in sale proceeds, and has completed the winddown of its operations.

The debtors have also engaged each of their key constituents and have made a “mediator’s proposal” with respect to a global settlement, which is expected to form the basis of a consensual plan, the company said.

Easterday said it believes the additional time is necessary so that the debtors can begin formulating the terms of the plan.

A hearing is set for Oct. 20.

Easterday Ranches is a Pasco, Wash.-based cattle operator. The company filed bankruptcy on Feb. 1, 2021 under Chapter 11 case number 21-00141.

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