Sino-Forest to file for creditor protection
Embattled Chinese forestry company Sino-Forest Corp
The company said it would ask the Ontario Superior Court of Justice to approve an agreement that would provide for either the sale of the company to a third party, or restructuring, under which the noteholders would acquire nearly all of its assets.
Shares of the company have been halted since August, following short-sellers' allegations that it had exaggerated the size of its forestry assets in China.
(Reporting By Allison Martell; Editing by Frank McGurty)
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