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Northwest News Network's Anna King reports on the latest bankruptcy hearing involving the Easterday family empire. / Runtime - 47 seconds
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There was a combative hearing Wednesday in the bankruptcy case of the Easterday family empire. The Easterdays owned major ranches and farmland in Washington and Oregon.
The Easterday Farms and Ranches was liquidated after Cody Easterday pleaded guilty to federal fraud. He’d been charging Tyson and another beef operator for the care and feeding of hundreds-of-thousands of nonexistent cattle.
With giant debts to creditors facing the family, they declared bankruptcy of two of their businesses, Ranches and Farms.
There are hundreds of millions in sale proceeds that need to be divided between the two estates to resolve the bankruptcy.
Over the weekend, the Easterdays claimed conflict of interest concerns and have taken legal action to fire the board for Ranches, and create a new board for Farms.
This has delayed what had seemed like an impending settlement.