VASCO Announces Bankruptcy Filing by DigiNotar B.V.
VASCO Data Security International, Inc. (Nasdaq: VDSI) (www.vasco.com) today announced that a subsidiary, DigiNotar B.V., a company organized and existing in The Netherlands ("DigiNotar") filed a voluntary bankruptcy petition under Article 4 of the Dutch Bankruptcy Act in the Haarlem District Court, The Netherlands (the "Court") on Monday, September 19, 2011 and was declared bankrupt by the Court today. The Court appointed a bankruptcy trustee (the "Trustee") and a bankruptcy judge (the "Judge") to manage all affairs of DigiNotar as it proceeds through the bankruptcy process. The Trustee will work under the supervision of the Judge and be responsible for the administration and liquidation of DigiNotar. The Trustee is required to report to the Judge and his reports are expected to be made available to the public and will serve as a source of information to the creditors and other stakeholders. Effective as of the beginning of business today, the Trustee has taken over the management of DigiNotar's business activities.
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