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The deal allows the former Richmond attorney to walk away from the lawsuit without paying any additional money back into the LandAmerica bankruptcy estate and ends all disputes between the two sides.
Richmond-based Dudley Resources will carry out what is planned as a two-pronged approach to a sale, which would look to generate cash for Acorn’s creditors.
The co-founder of the now-defunct Richmond legal giant LeClairRyan last month called for an across-the-board dismissal of more than a dozen counts.