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| 2001 News and Press Releases |
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HEADLINE ARCHIVED:
Top Stories: Corporate Finance
Bloomberg News. November 27, 2001
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Excerpt: Lernout & Hauspie Assets Are Sold at Auction: Winning Bid Not Identified. The remaining assets of Lernout & Hauspie Speech Products NV, the Belgian speech-recognition software maker whose market value peaked at $10 billion last year, were sold in a bankruptcy auction, a trustee for the company's estate said. The auction was completed in the New York law offices of Milbank, Tweed, Hadley & McCloy LLP at midnight yesterday, Seys said. "At this moment, this information is confidential at the request of the buyer," Seys said from Belgium. Lernout, whose software enables computers to understand the human voice, was declared bankrupt by a Belgian court last month after it failed to pay creditors. The company sought protection from creditors in the U.S. last year.
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