Easterday Ranches requests extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., April 28 – 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 Oct. 6 and the solicitation period through Dec. 6.

The debtors said they have been making steady progress in their cases, having received court authority to reject multiple leases, engage in short-term leasing procedures for idle farm equipment, and enter into debtor-in-possession financing.

The debtors are also moving forward with an orderly marketing process for the sale of their assets, in line with a cooperation agreement between the debtors and non-debtor sellers.

“Notwithstanding their outstanding progress, neither of the debtors is in a position to propose a plan at this time,” the motion said.

“The cooperation agreement is yet to be finalized or approved and, more critically, the disentangling of claims and interests between the two debtors, as well as between the debtors and non-debtor holders of related real property interests, has yet to occur.”

A hearing is set for May 19.

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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