Trinitas Farming, LLC and 18 affiliated debtors, led by Trinitas Advantaged Agriculture Partners IV, LP (TAAP IV) and backed by private equity firm Trinitas Partners LLC, operated a portfolio of 7,856 planted almond acres across five Central California counties with a weighted-average orchard age of 4.7 years still ramping toward full production. The debtors filed Chapter 11 on February 19, 2024 in the Northern District of California (Cases No. 24-50210 / 24-50211) after almond commodity prices collapsed to approximately $1.74/lb (near record lows versus ~$4/lb peak in 2014), forcing crop sales below cost of production, while rising floating-rate interest on $161 million in Rabo Agrifinance secured debt compounded liquidity pressure. The debtors obtained a $30 million DIP facility from Rabo Agrifinance and initiated a structured 363 sale process. As of October 2025, three significant ranch sales have closed—Picanso Ranch to US Agriculture, LLC ($14.02M), 407 acres to Vanderham Family Trust ($7M), and Phelps Ranch to Premium CA Orchards ($8.46M)—generating approximately $29.5 million in gross proceeds; farm equipment was sold via auction in July 2025; and a pending motion to sell TAAP IV's South Olive interest (754-acre non-debtor olive JV) to Howe Family LP for $7.5 million was filed October 3, 2025. The plan of liquidation has not yet been filed; Rabo Agrifinance is expected to recover substantially from real property sales and proceeds, while unsecured creditors (Pomona Farming, service providers) are expected to recover minimally or not at all, and equity interests face elimination.