LANDAMERICA (fka LFGRQ)

[OrnateSilk]

I am holding 10k. Sold the rest after Renee was nice enough to post the information filed yesterday. Saw a drop in price and was like uh-oh, logged in here, and saw the news.

As I have always maintained here, our bottom line return depends on just how much liability and damages are assessed against Land America for the 1031 exchange losses.

Nothing is concrete until the judge signs off on the plan. A judge knows that the true holders of a company are its shareholders and that the fault of the company being in bankruptcy lies with those who manage it. If there is a possibility that there will be assets left when the dust settles, the judge (let me qualify that with a good judge) will not approve the cancellation of shareholder equity.