Jo Lernout and Paul Hauspie, the well-known founders of the speech
recognition company have been included in a list of individuals whom the
Ghent-based Court of Appeal is set to charge.
The company filed for bankruptcy six years ago in the wake of an accounting
Investors have brought criminal charges against the group, alleging the
making of false statements, misrepresentation of financial products and
manipulation of markets, forbes.com reported.
The daily L’Echo reports that about 230 parties have brought charges
to court, including Test-Achats and Deminor, who are together pleading the case
of 15,000 minority shareholders, while La Libre Belgique reported the
estimated value of damages sought to be between £127m and £152m.
The trial is likely to last until the end of the year.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies