LANDAMERICA (fka LFGRQ)

[detearing]

IMHO, real simple!!! LandAmerica, should have never entered CH11, to begin with as they had ample funds to deal with the situation that had arisen. They just could not draw from them as quick as they needed them. Due to the failing Richmond, division. Ch11 was a quick roadblock to keep the heavy draw on funds from occurring. The balance sheet for the 3rd qtr ending 2008 clearly points that out. In the mean time they were putting together the deal with Fidelity, that has since closed. Adding enormous capital to this now even smaller company.If you review all the analysts comments you will see that they also agree that this was the easiest route to go isolating the 1031 LES, from the rest of the company while closing up the Fidelity deal.......