Easterday’s third amended plan draws objection from creditor Rabo

By Sarah Lizee

Olympia, Wash., July 11 – Easterday Ranches, Inc. and Easterday Farms’s third amended joint Chapter 11 plan of liquidation drew an objection from creditor Rabo AgriFinance LLC, according to court documents filed with the U.S. Bankruptcy Court for the Eastern District of Washington.

Rabo specifically objected to the third-party releases in the plan, and said the plan appears to “try and accomplish by stealth what other provisions of the proposed plan make clear can only be accomplished through affirmative consent.”

The creditor also said that the court should require as a condition of confirmation that the debtors “at least generally” identify the claims and causes of action that the debtors or plan administrator might pursue.

Rabo also said the plan needs to specify whether or not its class 3 claim is allowed or not.

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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