Sino-Forest expected to default on $1.3b in debt
Sino-Forest, the Toronto-listed Chinese timber firm whose chairman and CEO resigned on Sunday after regulators expressed concerns about fraudulent activity, is expected to default on its $1.3 billion of debt.
Sino-Forest bonds due in October 2017 and worth a total of $00 million were trading at $0.31 on the dollar on Monday, down from $0.44 at the end of last week. Bonds due in 2014 were trading at $0.32, down...
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