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LandAmerica files bankruptcy plan

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reserve

Published Sept. 10, 2009 at 10:16 a.m.

LandAmerica Financial Group has filed a plan for settling with its creditors with the U.S. Bankruptcy Court, liquidating itself in the process. The plan says each LandAmerica subsidiary will settle with its own claimants and creditors, out of its own resources. The company will set up liquidating trusts, and will reserve between $2.5 million and $5 million in cash to fund trust activities, which will include legal action against banks, brokers and other institutions that sold auction rate

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LandAmerica to pay employee bonuses

Published June 18, 2009 at 12:08 p.m.

Seventeen key LandAmerica Financial Group Inc. employees at the bankrupt company could receive a total of nearly $500,000 in incentive bonuses if they meet certain goals. If the employees meet such goals as selling remaining subsidiaries or closing others, they could be eligible for the incentive, Judge Kevin R. Huennekens ruled this morning during a hearing in U.S. Bankruptcy Court in Richmond ...

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LandAmerica pensions to be fully funded

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federal

Published May 14, 2009 at 10:08 p.m.

LandAmerica Financial Group Inc. and a federal agency that earlier this week moved to take over the bankrupt company’s pension program have agreed to a plan to ensure it is fully funded. The Pension Benefit Guaranty Corp. said in a statement tonight that LandAmerica had agreed to set aside money from the sale of subsidiaries to ensure the retirement plan is funded properly ...

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