Easterday: Pivot Secures Full Recovery in $280M Bankruptcy

Material Value Delivered

A large, family-run farming and cattle enterprise, Easterday Ranches, faced allegations of widespread fraud exceeding $280 million, leading to one of the largest agricultural bankruptcies in recent history. Easterday Ranches and Easterday Farms filed for Chapter 11, following claims that company head Cody Easterday billed for more than 200,000 non-existent cattle to cover trading losses.

Action:

Pivot professionals took immediate control of business operations.
Stabilized the company and led Chapter 11 proceedings.
Negotiated with creditors and secured financing to complete planting, growing, and cattle operations.
Drove a complex sale process to maximize asset value, despite tangled family interests.

Results:

Achieved a successful auction that exceeded the initial bid, covering 100% of secured debt.
Delivered material returns for unsecured creditors.
Confirmed Chapter 11 plan consensually, with no material objections.

Pivot > Team:

Lance Miller
Managing Partner

Peter Elkin
Partner

Stan Ho
Managing Director

Steve Borse
Senior Director

Mike Lang
Senior Director

Liz Gonzalez
Director

Sarah Rohr
Director