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Lot 546: B.B.L. INTERNATIONAL FINANCE S.A. - LERNOUT & HAUSPIE SPEECH PRODUCTS S.A.
October 29, 2016
Brussels, BelgiumLive Auction
Description: 24 July 2000 WEST-VLAANDEREN. IEPER. Reverse Convertible Bond of $1000. blue, green, black. No 24763. Doubtless the biggest financial scandal in Belgium during the internet bubble : the implosion of Lernout&Hauspie, a high-tech company focusing on speech technology. L&H was quoted on both Nasdaq and Easdaq. We offer here a reverse convertible bond. Reverse convertible bonds are complex high-risk financial products in which the investor temporarily gets high interest but risks not getting back the facial value, but instead virtually worthless shares, as was the case with L&H. Marketed by B.B.L., today part of ING.
Condition Report: EF