The U.S. trustee in LandAmerica Financial Group Inc.’s Chapter 11 bankruptcy proceeding is objecting to the company’s reorganization plan because it releases nearly everyone involved, including lawyers, from liability for negligent actions.
In the Nov. 12 objection, filed in In re LandAmerica Financial Group Inc. in the Eastern District of Virginia, U.S. Trustee W. Clarkson McDow Jr. stated that the releases do not comply with the bankruptcy code or case law.
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