Court Approves Sino-Forest's Plan of Compromise and Reorganization

      Court Approves Sino-Forest's Plan of Compromise and Reorganization

PR Newswire

TORONTO, Dec. 10, 2012

TORONTO, Dec. 10, 2012 /PRNewswire/ - Sino-Forest Corporation ("Sino-Forest"
or the "Company") announced today that the Ontario Superior Court of Justice
has approved the Company's Plan of Compromise and Reorganization pursuant to
the Companies' Creditors Arrangement Act (Canada) (the "CCAA") and the Canada
Business Corporations Act dated December 3, 2012 (the "Plan"). The Plan is
designed to facilitate the completion of a restructuring transaction
concerning, affecting and involving Sino-Forest under which, among other
things, Sino-Forest will transfer substantially all of its assets, other than
certain excluded assets, to a newly formed entity to be owned by the affected
creditors of Sino-Forest.

Court  approval  of  the   Plan  satisfies  a   key  condition  precedent   to 
implementation of the Plan. If the remaining conditions precedent set out  in 
the  Plan  are  satisfied  or  waived  within  the  time  frames  anticipated, 
Sino-Forest intends to implement  the Plan as soon  as possible and 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  implement 
the Plan as soon as possible and 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  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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