Easterday Ranches gets shorter-than-requested exclusivity extension

By Sarah Lizee

Olympia, Wash., Oct. 15 – Easterday Ranches, Inc. secured a short extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Thursday with the U.S. Bankruptcy Court for the Eastern District of Washington.

Specifically, the court extended the plan filing period through Dec. 31 and the solicitation period through Feb. 5.

As previously reported, the company had asked the court to extend the plan filing period through Feb. 3 and the solicitation period through April 5.

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 in its motion.

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

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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