Shermag gets plan extension

June 2008
Furniture/Today;6/9/2008, Vol. 32 Issue 39, p2
Trade Publication
The article reports that Sherbrooke, Quebec-based Shermag Inc. has been granted a plan extension by the Quebec Superior Court. The furniture industry attempted protection from creditors under the Companies' Creditors Arrangement Act. It is noted that the court originally gave the company until June 4, 2008 to prepare plans to repay 30 million Canadian dollar in debt. The court also obliged the company to publish its financial results for the fourth quarter of March 2008.


Related Articles

  • Shermag creditors will receive less than owed. Knell, Michael J. // Furniture/Today;8/31/2009, Vol. 33 Issue 49, p18 

    The article focuses on the lesser amount that will be received by creditors of Shermag Inc. due to the plan of arrangement filed at Québec Superior Court to be funded by Groupe Bermex Inc. It notes that secured creditors will only receive 50,000 Canadian dollars once the plan was approved in...

  • Shermag takes Bermax purchase offer.  // Furniture/Today;8/10/2009, Vol. 33 Issue 46, p2 

    The article reports on the accepted offer of Bermex to purchase all the assets of insolvent furniture manufacturer Shermag Inc. and its subsidiary Jaymar Furniture Co. in Quebec. It states that the deal is awaiting approval from the Superior Court. It adds that Shermag has sought protection from...

  • Court OKs Shermag deal. Knell, Michael J. // Furniture/Today;9/21/2009, Vol. 34 Issue 2, p1 

    The article reports that the plan of Shermag Inc. to meet the claims of creditors against the struggling manufacturer and importer of furniture has been approved by the Québec Superior Court. According to Shermag, the move is an important step for the reorganization of the company as well as...

  • Quebec Court Rules Against French Signs.  // Language Magazine;May2014, Vol. 13 Issue 9, p16 

    The article reports that the Quebec Superior Court ruled in favor of eight companies including Walmart, Best Buy and Toy R Us, who took the main French-language group Office québécois de la langue francaise to court.

  • Shermag earnings surge 42.3%.  // Furniture/Today;8/25/2003, Vol. 27 Issue 50, p62 

    Focuses on the second quarter financial result of manufacturer Shermag in Quebec. Percentage of increase in revenue; Dilution of earnings per share; Investments in product development.

  • Accounting malpractice. Dionne, Marie-Isabelle // CA Magazine;Oct2007, Vol. 140 Issue 8, p45 

    The article offers information on the ruling of Quebec Superior Court on the case of Agri-Capital Drummond Inc. against its accountants. The ruling did not favor the claims of Agri-Capital because of its failure to establish an evidence on the liability of accountant and on the direct harm that...

  • Whapmagootsui man sentenced in family slaying. East, Jeremy // Nation (1206-2642);6/28/2013, Vol. 20 Issue 17, p5 

    The article reports on the conclusion of a five year hearing as Quebec Superior Court Judge Francois Huot finally sentenced Peter Jr. Tooktoo who, in 2008, was charged of murdering Minnie Natachequan and their two sons. The accused was found guilty of manslaughter on three counts and was...

  • Quebec Court Backs Civil Anti-piracy Action. LeBlanc, Larry // Billboard;9/3/2005, Vol. 117 Issue 36, p21 

    Reports on the decision of the Quebec Superior Court on August 12, 2005 to grant Quebec music industry trade body ADISQ power to seize illegal copies of recordings by artists signed to or distributed by its members. Threat posed by piracy to the music industry; Handling by ADISQ of copyright...

  • Quebec Court Rules on Collective Agreement and Pension Issues in Insolvency Proceedings. McKinnon, Andrea // Canadian Benefits & Compensation Digest;Aug2009, Vol. 27 Issue 4, p2 

    The article discusses a court case about the AbitibiBowater Inc.'s insolvency proceedings under the Companies' Creditors Arrangement Act (CCAA). The Quebec Superior Court ruled that a collective agreement is a valid contract that is effective during an employer's CCAA proceedings. Few days after...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics