Two companies and an individual have filed involuntary bankruptcy motions against an Indiana cattle brokerage business that federal regulators say owes as much as $130 million to more than 700 ranchers and farmers in 30 states.
The action against Eastern Livestock Co., LLC, came Monday in
U.S. Bankruptcy Court in the Southern District of Indiana.
The motions were filed by companies in North Carolina and Georgia and a man in Kentucky.
Federal agriculture officials filed a complaint last month against Eastern, accusing the firm of failing to pay for livestock purchases or maintain an adequate bond.
Eastern is one of the largest cattle brokerages in the country,
operating in 11 states across the Mid-South, Midwest and West.
No hearing date has been set.
|Get the ingredients you need to cook with Rach all week long.|
|Full length exclusive concerts from hot artists.|
|Take a break!
Classic Pacman, Frogger, Asteroids and more.
Sell almost anything locally.