Sino-Forest , a China-focused forestry company accused of fraud, said on Sunday it has received notices of default from its noteholders, due to the company's failure to file its financial results in a timely manner.

Last week, the embattled company warned that it would be unable to file its results on time as an internal probe of fraud allegations drags on longer than expected.

Sino-Forest, until months ago the largest forestry company listed on the Toronto Stock Exchange, has been reeling since short-seller Carson Block and his firm, Muddy Waters, accused it of exaggerating the extent of its Chinese assets.

In view of its circumstances, the company said its board has established a special restructuring committee comprised of its independent directors. The committee will supervise, analyze and manage a review of the strategic options available to the company.

(Reporting By Euan Rocha; Editing by Matt Driskill)