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LandAmerica Asks Court To Approve PBGC Deal

Law360 (May 14, 2009, 12:00 AM EDT) -- LandAmerica Financial Group Inc. has asked the bankruptcy court overseeing its Chapter 11 proceedings to approve a deal with the Pension Benefit Guaranty Corp. for the termination of the real estate transaction company's pension plan.

In a motion filed Thursday in the U.S. Bankruptcy Court for the Eastern District of Virginia, LandAmerica told the court that approval of the settlement between the debtors, the official committee of unsecured creditors and the PBGC was essential to closing the $28 million sale of several of the debtors' subsidiaries....
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