Sino-Forest amends plan of compromise and reorganization
Nov 29, 2012. Sino-Forest Corporation announced that, in connection with its previously announced creditor protection proceedings under the Companies' Creditors Arrangement Act (the "CCAA"), it has made certain amendments to the Plan of Compromise and Reorganization dated October 19, 2012 which was previously filed with the Ontario Superior Court of Justice.
Nov 29, 2012. /Lesprom Network/. Sino-Forest Corporation announced that, in connection with its previously announced creditor protection proceedings under the Companies' Creditors Arrangement Act ( Canada ) (the "CCAA"), it has made certain amendments to the Plan of Compromise and Reorganization dated October 19, 2012 (as amended, the "Amended Plan") which was previously filed with the Ontario Superior Court of Justice (the "Court").
The amendments were made in accordance with the terms of the Amended Plan and the Plan Filing and Meeting Order of the Court dated August 31, 2012 and with the consent of the ad hoc committee of the Company's noteholders.
In order to allow creditors an opportunity to review the Amended Plan, the time for the meeting of creditors to consider the Amended Plan has been extended in accordance with the terms of the Plan Filing and Meeting Order made by the Court on August 31, 2012 and will now be held at 10:00 a.m. on Friday, November 30, 2012.
Sino-Forest operates and manages approximately 894,200 hectares of plantations and downstream manufacturing operations spanning eleven key provinces across China.