Sino-Forest Announces Anticipated CCAA Plan Implementation Date and Reduction of Unresolved Claims Reserve

Sino-Forest Announces Anticipated CCAA Plan Implementation Date and Reduction
                         of Unresolved Claims Reserve

PR Newswire

TORONTO, Jan. 11, 2013

TORONTO, Jan. 11, 2013  /PRNewswire/ - Sino-Forest Corporation  ("Sino-Forest" 
or the "Company") today announced that the Plan Implementation Date, the  date 
on which  the  Company's CCAA  Plan  of Compromise  and  Reorganization  dated 
December 3, 2012 (the "Plan") is to become effective, is expected to be on  or 
about January 17, 2013. This date has  been selected with the consent of  the 
Initial Consenting  Noteholders and  the Monitor  (all capitalized  terms  not 
otherwise defined herein  are as defined  in the Plan).  In addition, on  the 
consent of the Ontario Class Action  Plaintiffs, the Company, the Monitor  and 
the Initial Consenting Noteholders in accordance with the Plan, the amount  of 
the reserve for Unresolved Claims against Sino-Forest to be created under  the 
Plan (the "Unresolved Claims Reserve") has been reduced from $158.5 million to
$28.5 million  as a  result of  (a) certain  agreements reached  with  certain 
Eligible Third Party Defendants  who have agreed to  become Named Third  Party 
Defendants pursuant to  the Plan;  and (b)  the reduction  of the  Indemnified 
Noteholder Class Action Claim Limit as it relates to the remaining Third Party
Defendant who  is not  a Named  Third Party  Defendant. As  a result  of  the 
reduction in the Unresolved Claims  Reserve, approximately 98.5% of the  Newco 
Notes  and  Newco  Shares  will  be  distributed  to  Affected  Creditors   of 
Sino-Forest with Proven Claims on the implementation of the Plan.

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  on  or  about  January  17,  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;  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 be 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 

SOURCE Sino-Forest Corporation


All inquiries regarding the Company's proceedings under theCompanies'
Creditors Arrangement Act("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
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