By Julian Goldsmith, 25 October 2001 08:51
NEWS Brussells-based speech processing company Lernout & Hauspie has been declared bankrupt after battling to stay operational for over a year. The company declined to appeal the decision laid down by commercial court judge Michel Handschoewerker. The judge had rejected requests by what was once Europe's second largest software company for bankruptcy protection, saying the business plan it had submitted was aimed at liquidating its assets rather than saving them. The fate of L&H's US operations is still uncertain. L&H was hailed as a pioneer in the development of speech interfaces until its name was muddied by allegations of reporting irregularities. This was followed by police investigations in Europe and Asia and even the arrest of its two founders.
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