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Easterday seeks court OK of bid procedures for Washington farms
By Sarah Lizee
Olympia, Wash., March 29 – Easterday Ranches, Inc. and Easterday Farms set the bid procedures for the sale of their assets, according to a motion filed Friday with the U.S. Bankruptcy Court for the Eastern District of Washington.
The assets include farm properties consisting of about 81 parcels, all located in Benton County, Wash. All of the properties, including third-party ownership interests in the properties, are being marketed to be sold together, along with related farm equipment and other personal property.
The company said it anticipates choosing a stalking horse bidder in late April or early May, subject to court approval. There may be a break-up fee and expense reimbursement.
Under the proposed bid procedures, bids would be due by 7 p.m. ET on May 28, an auction, if needed, would be held on June 15, and a sale hearing would be held on July 15.
A hearing on approval of the bid procedures is scheduled for April 28.
Easterday Ranches is a Pasco, Wash.-based cattle operator. The company filed bankruptcy on Feb. 1 under Chapter 11 case number 21-00141.
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