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Belgian digital print systems maker Xeikon NV said Friday it had filed for bankruptcy protection and its French subsidiary had entered receivership proceedings. The Mortsel, Belgium-based company said it had failed to raise a targeted $40 million in convertible debt securities because it had not been able to negotiate a private placement. For its bankruptcy protection filings, Xeikon retained Belgian law firm Eubelius. The company said it would continue operations until the court had ruled on its request. Gino Despeghel, Xeikon's executive chairman, said he hoped the court would be sympathetic to his company's plea, given the competitiveness of Xeikon's printing technology and the outlook for the industry. The court must rule within 15 days. --Victorya Hong www.TheDeal.com