DAYTON–The Sheriff’s Sale on the real property of Columbia Pulp I, LLC, previously set for Friday, April 15, has been stayed as a result of the innovative wheat-straw-to-pulp enterprise being ordered into receivership in a King County court.

The action was initiated by UMB Bank, N.A., trustee for the holders of the bonds that financed Columbia Pulp I, LLC (CPI). Attorneys for UMB Bank filed...