After more than a year of negotiations, the Easterday bankruptcy settlement is nearing a conclusion for dozens of businesses owed money.
At a recent hearing, lawyers and Judge Whitman Holt of the Federal Bankruptcy Court in Yakima discussed the latest in a proposed claims schedule for 65 businesses with claims ranging from $300 to $4 million.
In all the claims add up to $10.76 million and represent the bulk of the debts for the Easterday Farms portion of the lawsuit.
The Easterday Ranches portion is still ongoing and includes more than $260 million in claims by Tyson Foods and Segale Properties.
So far Rabo Agrifinance is the lone holdout, in its attempt to get more than $1 million owed from property loans.
Attorneys for many of the other businesses reported that their clients voted and approved the tentative settlement amounts, most with more than 90% approval by voting parties.
Judge Holt said that while Rabo could “throw a grenade” on the settlement, it probably isn’t the best course of action. Instead language in a recent filing was added that will allow