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  1. Executive Summary.
    1. A 1,239-acre parcel located in Bosque County, Texas (the “Property”) is being offered for sale. The Property (i) produces income from the month-to-month lease of land for cattle grazing and (ii) is subject to a long-term ground lease of land for solar energy production.
    2. Qualified Bids (as defined in the Sale Procedures Order; all capitalized terms not defined here have the meaning ascribed to them in the Sale Procedures Order) are due on or before March 2, 2023, by 5:00 p.m. (Central Time).
    3. Key deadlines, bidding requirements, and other critical information for prospective bidders is contained in the Sale Procedures Order and its attachments.
    4. Read this informative marketing package for more information.
  1. Background.
    1. Daryl Greg Smith (“Smith”) and Canadian River Ranch, LLC (“CRR” and together with Smith, the “Debtors”) each filed a voluntary petition for relief under the Bankruptcy Code on April 9, 2021 (the “Petition Date”).
    2. On June 29, 2021, the United States Trustee requested appointment of the Trustee in this matter, and the Court approved such appointment.
    3. The Smith estate holds an undivided 90% interest in the Property. The remaining 10% interest is held by Darren Keith Reed, who has consented to this sale of the Property (“Reed,” and together with the Trustee, “Sellers”).
    4. The Trustee filed a motion on January 9, 2023 seeking entry of sale procedures. The Bankruptcy Court entered its order approving that motion (the Sale Procedures Order on January 12th.)
    5. The Debtors’ chapter 11 cases are being jointly administered as Case No. 21-60162-rbk, in the Waco Division of the U.S. Bankruptcy Court for the Western District of Texas. Judge Ronald B. King is presiding over the cases.
  1. More Information.

Please contact the Trustee’s court-approved real estate brokers to execute a Non-Disclosure Agreement and access the virtual data room.

Riley-McLean Land
Attn: Lindsey Holubec
505 Walsh St. Austin, TX 78703
[email protected]
Office: (512) 960-4676
Cell: (512) 629-5525

Further information about the opportunity can be found on the broker’s website at: https://www.rileymclean.com/project/willow-creek-ranch/

  1. About the Trustee.

Gregory S. Milligan is chapter 11 trustee for the Debtors. Mr. Milligan is Executive Vice President of Harney Partners. For more than 25 years, and with engagements involving onsite advisory to clients in more than 25 states and multiple foreign countries, Greg has maintained a practice surrounding troubled situations or situations that require fiduciary oversight. He joined HMP in 1998 and opened the second HMP office in Austin in 2001. Since that time, he has both led and collaborated on engagements with highly successful outcomes, meriting multiple peer-review awards from the Turnaround Management Association and the M&A Advisor. Harney Partners is a boutique consulting firm with a team of industry veterans with deep expertise in restructuring and turnaroundbankruptcyfiduciary servicestransaction advisoryprocess optimization & operations advisory, and forensics & litigation services.

  1. About Trustee’s Counsel.

WALLER LANSDEN DORTCH & DAVIS, LLP represents the Trustee. The best way to contact the Trustee’s counsel is to email Morris Weiss at [email protected] or Courtney Stone at [email protected]

About DailyDAC

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