Valadao family farm to sell livestock to settle debt lawsuit


The farm of local Congressman David Valadao has agreed to sell off much of its livestock to settle its debt with Rabobank.

17 News reported in March how Valadao’s family business — Triple V Farms — defaulted on two loans from the bank.

The bank sued in November saying the farm owed more than $8 million.

The court documents from March say the two sides agreed to an auction to sell as much as much of the farm’s equipment and livestock as possible.

The date was set for May 15, but the lawsuit allowed for the date to change for Rabobank to benefit most from the sales.

Congressman Valadao’s office did not respond to a request for comment for this story.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Latest News

More Local News