Resolution of Damages Action by Litigation Trust of Belgian Company

Litigation Trust of Lernout & Hauspie Speech Products NV

Representation of Litigation Trust of Lernout & Hauspie Speech Products NV, a large Belgian speech recognition technology company, in a damages action in the United States District Court for the Southern District of New York. Our client sought to recover $50 million in damages from three Korean banks arising from misleading and fraudulent factoring agreements between the banks and a wholly-owned Korean subsidiary of L&H. We defeated the banks' motions to dismiss and obtained a settlement in favor of the Trust.

RELATED PEOPLE
MORE EXPERIENCE
Experience
Representation of B piece and special servicer clients, handling in excess of $130billion in 2.0 CMBSsecuritizations.
Experience
Representation of an energy company in its $9.45 billion all-cash acquisition of another energy company, resulting in the creation of the largest utility holding company in the United States.
Experience
Handled the sale of over 2,000 REOs, with aggregate purchase prices in the billions of dollars, through both the negotiation and closing of individual sales and the structuring and sale by auction of multiple properties. The largest was approximately $216 million, which was the sale of a major hotel...
VIEW MORE EXPERIENCE