Sino-Forest Enters Ch. 15 To Finish Sell-Off Uninterrupted

Law360, New York (February 6, 2013, 6:01 PM EST) -- Chinese timber company Sino-Forest Corp. sought Chapter 15 protection in Manhattan bankruptcy court Monday, nearly a year after controversy surrounding its asset valuations and financials forced it to enter bankruptcy in Canada.

The company is entering Chapter 15 bankruptcy in an effort to help implement its plan to transfer nearly all of its forestry assets to creditors, which was approved by a Canadian court in December.

Listing more than $1 billion in both assets and liabilities, an attorney for Sino-Forest’s court-appointed monitor, FTI Consulting Canada Inc.,...
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