Firm’s Work in Latest Stage of LandAmerica 1031 Recovery of $109.75 Million Covered in Richmond Times-Dispatch,

Golenbock Eiseman Assor Bell & Peskoe LLP’s successful work in obtaining a $14.25 million settlement from SunTrust Bank on behalf of LandAmerica 1031 Exchange Services Liquidation Trustee Gerard McHale, Jr. was covered in the Richmond Times-Dispatch and on Litigation partner Michael S. Devorkin, who served as counsel for the Trustee, is quoted in both stories describing the value of the settlement, the total recovery obtained for 1031 Group Members thus far, and the aggressive approach that the firm is taking on recovering assets in this case. The stories can be found online here and here (subscription required).

This most recent recovery is in addition to $95.5 million recovered from Citigroup Global Market, Inc. in late 2010, which was also covered in the Richmond Times Dispatch (story here).

As of today, recoveries for the creditors of the LES Trust are approximately 66.5% of losses and the Firm’s work to obtain recoveries continues.