Sino-Forest Creditors Approve Plan of Compromise and Reorganization

     Sino-Forest Creditors Approve Plan of Compromise and Reorganization

PR Newswire

TORONTO, Dec. 3, 2012

TORONTO, Dec. 3, 2012 /PRNewswire/ - Sino-Forest Corporation ("Sino-Forest" or
the "Company") announced that at a meeting of its creditors held today, the
creditors voted on and approved, by the required majorities, the Plan of
Compromise and Reorganization of Sino-Forest pursuant to the Companies'
Creditors Arrangement Act (Canada) and the Canada Business Corporations Act
dated December 3, 2012 (the "Plan"). The Plan was approved at the meeting by
99% of the number of affected creditors who voted on the Plan and by over 99%
in value of the proven claims held by affected creditors who voted on the

The Company intends to seek an order of the Ontario Superior Court of  Justice 
(the "Court") sanctioning  and approving the  Plan at a  hearing scheduled  to 
take place on December 7,  2012 and December 10,  2012 at 10:00 a.m.  (Toronto 
time) at the Court  at 330 University Avenue,  Toronto, Ontario, Canada. As  a 
result of certain  amendments to  the Plan  announced by  the Company  earlier 
today,  the  noteholders  of  Sino-Forest,  Ernst  &  Young  LLP  and  certain 
underwriters of Sino-Forest  voted in  favour of the  Plan at  the meeting  of 
creditors held today.

Implementation of the  Plan is subject  to the  approval of the  Court and  to 
numerous other conditions  precedent, including the  receipt of any  necessary 
regulatory approvals.  If the  conditions precedent  are satisfied  or  waived 
within the time frames anticipated, Sino-Forest intends to implement the  Plan 
not later than January 15, 2013.

Further information concerning the Plan is available on the Monitor's  website 
at,   the    Company's   website    at, and on SEDAR at

This news release contains forward-looking  information within the meaning  of 
applicable   securities   laws   ("forward-looking   statements"),   including 
forward-looking statements  relating to:  Sino-Forest's intention  to seek  an 
order of  the Court  sanctioning  and approving  the Plan;  and  Sino-Forest's 
intention to implement the Plan not  later than January 15, 2013. The  forward 
looking statements expressed or  implied by this news  release are subject  to 
important risks  and uncertainties.  Forward-looking statements  are based  on 
estimates and assumptions made by the  Company in light of its experience  and 
its perception of  historical trends, current  conditions and expected  future 
developments,  as  well  as  other  factors  that  the  Company  believes  are 
appropriate in the  circumstances. The  results or events  predicted in  these 
statements may differ  materially from actual  results or events  and are  not 
guarantees of future  performance of  Sino-Forest. Factors  which could  cause 
results or events  to differ  from current expectations  include, among  other 
things: Sino-Forest's  ability  to  complete  the  Plan  in  the  time  period 
contemplated, if at all, which is dependent on its ability to comply with  the 
closing conditions to the Plan, many  of which are significant and beyond  the 
control of Sino-Forest, including the approval of the Court and securities and
other regulatory  authorities; actions  taken  by the  Company's  noteholders, 
lenders, creditors,  shareholders, and  other  stakeholders to  enforce  their 
rights; actions  taken  against  the  Company  by  governmental  agencies  and 
securities and other regulators; actions taken by the Monitor; the outcome  of 
examinations  and  proceedings  currently  underway  by  law  enforcement  and 
securities regulatory  authorities;  the  outcome of  class  action  or  other 
proceedings which have been or may in future be initiated against the Company;
and the  Company's  ability  to  continue to  operate  without  former  senior 
management, almost all  of whom have  ceased to employed  by the Company;  and 
other factors not currently viewed as material that could cause actual results
to  differ  materially   from  those  described   in  the   forwarding-looking 
statements. Sino-Forest Corporation disclaims  any intention or obligation  to 
update or revise any  forward-looking statements, whether as  a result of  new 
information, future events or otherwise, except as required by law.

SOURCE Sino-Forest Corporation


All inquiries regarding the Company's proceedings under the CCAA should be
directed to the Monitor, FTI Consulting, via email,
or telephone: (416) 649-8094. Information about the CCAA proceedings,
including copies of all court orders and the Monitor's reports, are available
at the Monitor's website
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