LandAmerica Trustee Seeks OK On $58M Sale

Law360, New York (January 22, 2013, 11:03 PM EST) -- The dissolution trustee for bankrupt title insurer LandAmerica Financial Group sought approval Tuesday for a $57.5 million asset sale and merger agreement between LFG and Arizona-based Western Alliance Bank in which two LFG units will be rolled into each other before being sold.

In a motion filed in Virginia federal court, the trustee sought approval for the deal, in which Phoenix-based Western Alliance Bancorp unit Western Alliance Bank would acquire LFG unit Centennial Bank after Centennial absorbs Orange County Bancorp, another LFG unit. 

The deal would...
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