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.
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