Court approves sale of Shermag to Bermex

Knell, Michael ].
August 2009
Furniture/Today;8/17/2009, Vol. 33 Issue 47, p8
Trade Publication
The article reports on the approval of the sale of Shermag Inc. to Groupe Bermex by the Québec Superior Court in Quebec. It discusses the deal between the two companies wherein Bermex will provide $1.25 million Canadian to finance Shermang's plan of arrangement to present to its creditors under the Company's Creditors Arrangement Act (CCAA). Moreover, under the deal, Bermex will also receive about 70% of Shermag's outstanding common shares.


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