Attorneys charging $1 million a month to get Easterday farms, ranches out of bankruptcy

 

By Kristin M. Kraemer of the Tri-City Herald

via Union Bulletin (WA) - Jul 21, 2021

 

Lawyers working to get Easterday farming and ranching operations through bankruptcy reorganization have racked up nearly $4.7 million in fees and expenses in four months.

 

And the bills keep coming.

 

Easterday Ranches filed for bankruptcy protection on Feb. 1, followed by Easterday Farms one week later.

 

The two Chapter 11 cases in U.S. Bankruptcy Court are being jointly administered “for procedural purposes only,” with court staff maintaining one file.

 

Documents recently filed in the main case detail how much the three law firms hired by the Easterdays are seeking in compensation and reimbursement for Feb. 1 through May 31. They are the most recent fee applications on file.

 

The total for four months is $4.67 million.

 

That does not include the $1.4 million requested by attorneys who are tasked with making sure the unsecured creditors for both companies are represented.

 

Chief Judge William L. Holt established a court-approved budget...

 

Legal fees, expenses ... 

 

Tyson fraud ...

 

Restitution funds ...

 

more

https://www.union-bulletin.com/news/northwest/attorneys-charging-1-million-a-month-to-get-easterday-farms-ranches-out-of-bankruptcy/article_c86d1172-ea3c-11eb-9533-efbdf1d5e93b.html