Paulson & Co
Sino-Forest bondholders may face 100% write-down
Sino-Forest bondholders could face a near-100% write-down on their investment as the company received a default notice on two of its bonds after failing to file third-quarter results on time.
Sino-Forest runs low on cash, bonds suggest default
Sino-Forest, the private equity-backed forestry firm that last week issued a report denying short-seller claims that it is engaged in a massive fraud, is still in danger as its bonds trade at prices that imply an extremely high risk of default. The negative...
China forestry assets: A due diligence nightmare
Opaque regulation and uncertainty about ownership in China’s forestry industry represent a challenge to strong investor oversight.
GIC reaches agreement with Paulson & Co. over hotel assets
Government of Singapore Investment Corp. (GIC) has reached a settlement with MSR Resorts, a hotel group owned by hedge fund Paulson & Co. Under the settlement, which was approved by a US bankruptcy court judge on Tuesday, GIC will cease its near-term...
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 CEO resigns as regulator expresses fraud concerns
The chairman and CEO of Sino-Forest has resigned and three employees have been temporarily suspended after the Ontario Securities Commission said the company may have misrepresented its revenue statements and exaggerated its timber holdings. It added...
Mandolin Fund ups stake in Sino-Forest to 18%
Singapore-based Mandolin Fund now owns 18% of Sino-Forest, having increased its stake in the scandal-hit forestry company for the third time in four weeks.
Mandolin raises its stake in beleaguered Sino-Forest to 15%
Singapore-based Mandolin Fund has increased its stake in scandal-hit Chinese forestry company Sino-Forest to nearly 15%. The fund’s announcement on Wednesday that it had bought a further 5.3 million shares on July 26 saw the Toronto-listed stock close...
Paulson exits scandal-hit firm as concern mounts about China forestry plays
Paulson & Co. has exited its stake in Sino Forest following fraud allegations against the Chinese company. It is the second such firm to be implicated in a scandal after China Forestry, which is backed by The Carlyle Group and Partners Group, was suspended...