HCMP’s Bankruptcy team recently achieved a full recovery for an institutional client in the “Easterday Farms” bankruptcy case. Our client had a substantial unsecured claim and faced the prospect of little to no recovery after creditors discovered a fraudulent scheme in which they had advanced more than $244 million, purportedly used to buy and feed hundreds of thousands of cattle that did not actually exist.
HCMP’s Bankruptcy team helped organize an Official Committee of Unsecured Creditors and launched an effort on behalf of creditors to investigate and liquidate assets and to resist efforts by the Easterday family to obtain releases without paying creditors in full, much as the Sackler family did in the Perdue Pharma bankruptcy.
HCMP is proud of its work on this matter, which led to a full recovery for unsecured creditors.