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LandAmerica posts $9.89 million net loss for May on negative revenues
By Caroline Salls
Pittsburgh, July 17 - LandAmerica Financial Group, Inc. posted a $9.89 million net loss for May on negative revenues of $13.16 million, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Eastern District of Virginia.
The figures compared to a $10.21 million net loss reported in April on negative revenues of $3.76 million.
As of May 31, the company had $80.71 million in cash and cash equivalents, down from $87.98 million at the end of April.
LandAmerica, a title insurance underwriter based in Glen Allen, Va., filed for bankruptcy on Nov. 26, 2008. Its Chapter 11 case number is 08-35994.
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