The end is near for LandAmerica Financial Group Inc. U.S. Bankruptcy Judge Kevin R. Huennekens approved the Henrico County-based title insurer’s plan yesterday to dissolve itself, pay creditors and set up trust committees to wind down the estate. “Not everyone is happy but this is the happiest plan we could have,“ Huennekens said after a daylong hearing in U.S. Bankruptcy Court in Richmond.

A customer of a unit of Henrico County-based LandAmerica Financial Group Inc., which is in bankruptcy reorganization, said yesterday that his worst suspicions were confirmed. “There are insufficient funds to meet its obligations,“ said Allen Walsh. Walsh traveled from Baton Rouge, La., to attend a creditors’ meeting of LandAmerica 1031 Exchange Services, a subsidiary of the parent company, in the U.S. Bankruptcy Court’s trustee’s office in Richmond.

Days before LandAmerica 1031 Exchange Services Inc. declared bankruptcy, the troubled business was still accepting money from customers. Now that money is tied up and allegations of fraud, misconduct and breach of contract have been leveled against the unit, a division of Henrico County-based holding company LandAmerica Financial Group in U.S. Bankruptcy Court.