Leachman ranch sale canceled with last-minute bankruptcy filing
The Billings Gazette
JAN FALSTAD
Ninety minutes before James Leachman of Billings likely would have lost ownership of two ranches east of Billings during a foreclosure auction, he delayed the sale by filing for personal bankruptcy.
The noted cattle breeder filed for Chapter 12 bankruptcy at noon today. Chapter 12 is a type of bankruptcy that farmers and ranchers file.
That means the U.S. marshal’s sale scheduled to be held at 1:30 p.m. at the Yellowstone County Courthouse was automatically postponed.
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