LandAmerica Disclosure Statement Garners Court OK

Law360, New York (October 13, 2009, 5:17 PM EDT) -- A bankruptcy judge on Tuesday approved the disclosure statement of real estate services and financing company LandAmerica Financial Group Inc., paving the way for a confirmation vote.

Tuesday's hearing was heavily contested, with about a dozen so-called 1031 exchange customers alleging that the plan infringed their right to litigate over an alleged auction rate securities fraud, according to Rachel Strickland, a partner at Willkie Farr & Gallagher LLP who is representing LandAmerica and its affiliated debtors.

But Judge Kevin Huennekens of the U.S. Bankruptcy Court for...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.