In a new twist on the modern day southeast Washington cattle rustling tale, Tyson Fresh Meats has asked a federal court to appoint a third party to run Easterday Ranches.
(Fresh thread)
(Fresh thread)
CONTEXT: Tyson sued Easterday last month, alleging it had scammed Tyson by inventing 200,000 fictitious cattle. Then last week Easterday declared bankruptcy.
In its new court motion, #Tyson detailed how Easterday sold one of its major assets -- a feedlot -- then immediately doled out to family and company insiders about $13 million of the $16 million dollar sale.
University of Oregon bankruptcy expert Andrea Coles-Bjerre says Tyson probably wants to protect Easterday’s most “perishable” assets -- 54,000 head of actual cattle.
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“Whether they are cattle that need to be fed, or frozen products that need to be refrigerated, or crops that need to be watered,” says Andrea Coles-Bjerre. “Whatever they are, they need to be preserved.”
Yesterday (Monday) Easterday declared bankruptcy on its sister corporation, Easterday Farms.
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