LandAmerica Sells Subsidiaries

At an auctions held earlier this month, LandAmerica placed a number of its subsidiaries up for sale.  Fidelity National Financial placed the highest and best bid of $16.3 million for LandAmerica’s stock in LoanCare Serving Center, Inc. and LC Insurance Agency, Inc.  Buyer’s Protection LLC placed the highest and best bid of $12.2 million for LandAmerica’s stock in LandAmerica Home Warranty Company, LandAmerica Property Inspection Services, Inc., Buyer’s Real Estate Services, Inc., and Residential Property Maintenance, Inc.

 

Today, Richmond Bankruptcy Judge Kevin Huennekens approved the sales as being in the best interests of the bankruptcy estate of LandAmerica.