LandAmerica Unit Sues UnitedTech For Contract Breach

Law360, New York (February 5, 2010, 2:35 PM EST) -- A bankrupt subsidiary of insurer LandAmerica Financial Group Inc. that recently sold its assets to UnitedTech Lender Services Inc. has lodged an adversary complaint that accuses UnitedTech of using funds from the deal for items outside its contractual scope, such as prepetition liabilities.

LandAmerica OneStop Inc., which is the only remaining LandAmerica subsidiary still in Chapter 11, filed its complaint Thursday with the U.S. Bankruptcy Court for the Eastern District of Virginia, seeking at least $1.5 million plus interest and attorneys' fees.

“OneStop has exhausted its...
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.