Dictaphone emerges from Chapter 11

AuntMinnie.com staff writers
Mar 28, 2002

Speech recognition and dictation provider Dictaphone has officially emerged from Chapter 11 bankruptcy as an independent company. The Stratford, CT-based vendor is no longer a subsidiary of former parent Lernout & Hauspie Speech Products.

According to the firm's U.S. Bankruptcy Court-approved plan of reorganization, Dictaphone's unsecured creditors now own all of its common stock, prior to customary dilution for the company's incentive program. Dictaphone said it has also secured a $30 million commitment from GMAC Business Credit under a revolving credit facility to meet ongoing working capital needs.

By AuntMinnie.com staff writers
March 29, 2002

Related Reading

Dictaphone gets court OK for reorganization, March 19, 2002

Dictaphone introduces browser-based VR software, January 30, 2002

Dictaphone to acquire PowerScribe for Radiology from L&H, October 17, 2001

L&H names new president for Dictaphone, June 1, 2001

Belgian L&H branches out to transcription technology, February 5, 2001

Copyright © 2002 AuntMinnie.com

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