A&O Belgium raided in securities inquiry
Legal Director reports
Allen & Overy’s Belgian office has been raided by Belgian authorities as part of an investigation into a former client, speech recognition company Lernout & Hauspie.The raid, ordered by a Belgian judge, took place last week following the arrest and extradition of Lernout’s chief executive Gaston Bastiaens on charges of fraud, insider trading, stock manipulation and accounting violations.Two of Lernout’s founders Jo Lernout and Pol Hauspie and former executive Nico Willaert have also been arrested as part of the Belgian investigation. Brussels-based A&O partner Louis Verbeke confirmed that A&O had advised Lernout on Belgian law but declined to comment further.A Belgian court last week threw out restructuring proposals and extended its protection from creditors, in relation to the Nasdaq-listed Lernout, until October.Verbeke is the former name partner of Benelux firm Loeff Claeys, Verbeke’s Belgian arm, which merged with A&O in November 2000.
This premium content is reserved for
Legal Week Subscribers.
Subscribe today and get 10% off.
A PREMIUM SUBSCRIPTION PROVIDES:
- Trusted insight, news and analysis from the UK and across the globe
- Connections to senior business lawyers within the leading law firms and legal departments
- Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
- The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
- Optimized access on all of your devices: desktop, tablet and mobile
- Complete access to the site's full archive of more than 56,000 articles
Already have an account? Sign In Now
For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651