This was the motion that I have been lookin for. Credit to Vlftraders. Now the motion is real and its not an opinion. This is what the Landamerica and its plaintiffs agreed on. Now again my question is, if you have Landamerica and the plaintiffs agree to take care of the complaints then why in the world would Landamerica file for chapter 7. They had fidelity buy out some divisions and the debt. Now they are left with whatever is left and they want to sell. If they had anyone else going after them for money then how come we dont know about it. I could be wrong but I think that everyone that is after them for money is apart of this complaint that both parties have agreed to settle on. To me that means that Landamerica is free and clear to do whatever they want. Which means sell the companies, which means x amount of dollars x's 15million shares.
FOR NEWBIES/FILING MOTION FOR MONDAY...........
It basically says that the commitee of
plaintiffs and Landamerica have an
agreement to take care of all the
complaints and avoid anymore litigation.
If they get get everyone to agree to it
on Monday, then they can discharge the
bankruptcy in short order compared to
handling each case one by one.
Credit to cantgetmyname for finding this...
Simplified...
The issues raised in the Adversary Proceedings
Procedures Order were discussed at length during
the Procedures Hearing. Moreover, there is an
immediate need to establish appropriate procedures
to deal with the multitude of adversary proceedings
that have been commenced. The Court recognized
this need at the Procedures Hearing and directed
the Debtor and the Committee to develop an agreed
process, hopefully by year end, if possible, or
early January. The Debtor and the Committee now
have agreed on an appropriate process. For
these reasons, LES is simultaneously filing a
motion for expedited hearing requesting that the
Court hold a hearing on the Motion on
January 12, 2009.
During the Procedures Hearing, the Court
indicated its interest in establishing a
“procedure that is streamlined,” “some
procedure that will allow us to expedite
[these cases] in . . . some sort of a
way that we can resolve all of these
issues.” Hr’g Tr. recorded by electronic
sound recording) at 43, 48. The Court
further requested the Debtor and the
Committee to meet and confer to establish
a protocol for handling the adversary
proceedings on an expedited test-case basis.
WHEREFORE, LES and the Committee respectfully
request that the Court enter an order,
substantially in the form annexed hereto,
granting the relief requested in the Motion
and such other and further relief as may be
just and proper.
UNITED STATES BANKRUPTCY COURT
FOR THE EASTERN DISTRICT OF VIRGINIA
RICHMOND DIVISION
Dated: Richmond, Virginia
January 7, 2009
VLF
