At the end of 2010, the well known Eastern Livestock Company was forced into bankruptcy with debts to creditors grossing as much as $20.7 million and an alleged $2.5 billion in fictitious transactions.
The situation has sat momentarily quiet following the massive media coverage it received initially.
Colin Woodall, Executive Director of Legislative Affairs for the National Cattlemen’s Beef Association, gave us the latest as he knew it on Tuesday.As far as figuring out who’s to blame, Colin says that the full answers are still out there. However, they may have to wait for congressional investigations or future lawsuits to be uncovered.
© Northern Ag Network 2011
Kaci Switzer & Haylie Shipp
