The co-founders of troubled dictation and translation software company Lernout & Hauspie will be extending their stay in jail for at least another month.
The co-founders of troubled dictation and translation software company Lernout & Hauspie will be extending their stay in jail for at least another month.
The pair will be eating porridge in separate Belgian prisons while an investigation into fraud and stock price manipulation is carried out. The pair are believed to have been separated so that Lernout can be treated for depression.
They were arrested late last week on charges of fraud and may face creditors' claims of around £350m.
Philippe Bodson, L&H's new chief executive appointed in January, said he was considering selling the company's assets to make the payments. An 11 June deadline has been set for US creditors to make their claims from the period before 29 November last year.
The founders of speech recognition software company Lernout & Hauspie have been arrested on fraud allegations and are being held in a Belgian prison. 27 Apr 2001
Speech recognition company Lernout and Hauspie insists its recent financial catastrophe has been resolved, and is now suggesting that its future lies in providing solutions for operators trying to recoup investments made in 3G. 23 Mar 2001
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