SCHRAMM Australia owner the US company Schramm has filed for Chapter 11 bankruptcy with plans to sell the business off through a court-supervised process.
Rig maker Schramm has gone into Chapter 11.
It is understood the company has secured an initial US$16.3 million offer from private equity firm GenNx360 Capital Partners. GenNx360 is an existing lender and owns a large stake in Schramm's bankrupt...
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