Dictaphone emerges from Chapter 11

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

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

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

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