Easterday Ranches, Farms sued by Washington Trust Bank
This is the second lawsuit Easterday Ranches faces after Tyson Foods alleged the company of fraud
PASCO, Wash. – The Easterday family is facing another legal battle as Washington Trust Bank has filed a lawsuit against them.
According to documents obtained by KAPP KVEW, Easterday Ranches and Farms defaulted on a $45 million loan agreement.
The lawsuit demands the money from the company however, they just filed for Chapter 11 bankruptcy this week.
READ MORE: Easterday Ranches files for bankruptcy
They’re also facing a lawsuit from Tyson Foods, after the previous president allegedly defrauded them out of $225 million.
In the complaint, Washington Trust Bank said the company breached a contract and as a result, WTB demanded payment, possession of crops and collateral, and a private receiver be appointed to take control of collateral.
RELATED: Easterday Ranches sued by Tyson Foods for $225 million fraud
KAPP KVEW has reached out to the Easterday’s and their lawyer, who hasn’t been available for comment.
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