That's a protection trigger, you'll just be hanging until you use the retail disc, for that particular trigger there's a update out incase you want to keep trying with a so called "cracked" executable but there's other points in the game where you'll get stuck instead.
I guess you also experienced a problem with the rope slide at the beginning also. It seems that this game must do a security check every time the game save and moved on to the next stage, it seems to happen after every cutscene although I myself have only experienced 2.
Sliding down the rope, the cutscene shows them hang there, then disappear only to end up down the bottom, you are still hanging there hanging around, looking like you sliding but your not, you can leave it like that for 20 mins and youll still be there. There is a fix see below.
Go to gamecopyworld website, download the new vitality no cd fix which includes a vitality dll file and game fix, copy then to the binary folder of the game ( over writing original ones )
You should now be able to slide down the rope and continue to the next stage.
Cutscene shows your companions climb a ledge, they ang there for about 3 to 5 secs then disappear, the they materialise on the ohter side near the ladder ( on the top of the left building ).
When ever you see them disappear and reappear somewhere, its usually a indicator that its another security check point and if the cutscene is not fluid motion, so that you see everything you have just encountered a uncracked security check point.
There is no fix I can fund, I have tried downloading the vitality no cd fix again and installing over the top again to no avail, I have even tried recracking the game then applying the newly download no cd fix still no go.
If I were Vitality, I would be totally embarassed and ashamed of myself for releasing a virtually unplayable game just so they can get the " We release it first " award. Whats the use of getting a award for releasing something that cant be played.
DAMN VITALITY, WILL KEEP LOOKING FOR A PERMANENT FIX, WHO EVER FINDS ONE FIRST AND POSTS IT HERE WINS!!!