EASTERN LIVESTOCK
Posted Fri, Nov 12 2010 06:26 PM CST
DUDEN TRUCKING L.L.C.
AINSWORTH, NE
402-376-6130

Posts: 20
Been real quiet about them. Will we get paid for loads we hauled for them? REPLY REPLY WITH QUOTE
Posted Fri, Nov 12 2010 06:42 PM CST
LIVESTOCK NETWORK LIVESTOCK NETWORK
LIVESTOCK NETWORK
HICO, TX
254-796-0975

Posts: 11

Restraining order sought on Indiana cattle firm

11/12/2010 COMMENTS (0)

CHICAGO, Nov 12 (Reuters Legal) - The U.S. Agriculture Department is seeking a temporary restraining order that could halt operations at Eastern Livestock Co LLC of New Albany, Indiana, a business under investigation over allegations that it failed to pay up to $130 million in bills, the USDA said on Friday.

No charges have been filed against Eastern Livestock. The investigation by the USDA's Grain Inspection, Packers and Stockyards Administration began last week following seller complaints over unpaid bills.

The USDA said the $130 million included $81 million in checks returned by banks.

On Tuesday, Fifth Third Bank filed a lawsuit against Eastern Livestock in state court in Hamilton County, Ohio. The Cincinnati-based bank claims a security interest in all of Eastern Livestock's assets, according to the Livestock Marketing Association. The bank requested a temporary restraining order, permanent injunction and the emergency appointment of a receiver.

Eastern Livestock calls itself one of the largest cattle brokerage companies in the United States. Formed in 1982, it has facilities in 11 states.

A woman who answered the telephone on Friday at Eastern Livestock would not comment on the investigation.

New Albany, in southeast Indiana, is a suburb of Louisville, Kentucky.

The Ohio case is Fifth Third Bank v. Eastern Livestock Co LLC, Court of Common Pleas, Hamilton County, Ohio, No. A1010267. Fifth Third Bank is represented by Cincinnati lawyer Victor Walton. It could not immediately be determined who represents Eastern Livestock. (Reporting by Bob Burgdorfer of Reuters; Additional reporting by Terry Baynes of Reuters Legal)

Producers who have not received payment due from Eastern are encouraged to contact the GIPSA Midwestern Regional Office, Des Moines, Iowa, at telephone 515-323-2579 for complete information on available financial protections, and for forms necessary for filing a bond claim on payments due from Eastern.

Bond claims must be filed within 60 days from the date of the transaction on which the claim is based.


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