OREANDA-NEWS.  November 27, 2012. Sino-Forest Corporation has filed with the Ontario Superior Court of Justice (the "Court") a supplement (the "Plan Supplement") to the Amended Plan of Compromise and Reorganization concerning Sino-Forest filed with the Court on October 23, 2012 (the "Amended Plan"), as the company said in the press release received by Lesprom Network.

As previously announced, the Amended Plan provides for a restructuring transaction (the "Restructuring Transaction") under which Sino-Forest would transfer substantially all of its assets, other than certain excluded assets, to a newly formed entity ("Newco") to be owned by the "Affected Creditors" of Sino-Forest.

The class of Affected Creditors includes Sino-Forest's current noteholders and certain other creditors of Sino-Forest, and excludes unaffected claims, equity claims, related indemnity claims, subsidiary intercompany claims, and certain other claims.

The assets transferred to Newco pursuant to the Restructuring Transaction would include all of the shares of the Company's directly owned subsidiaries which own, directly or indirectly, all of the business operations of the Company including Greenheart Group Limited. The assets transferred to Newco would not include, among other things, certain litigation claims of the Company against third parties which would be transferred to a litigation trust (the "Litigation Trust") to be established to pursue such claims on behalf of the Affected Creditors and certain other stakeholders, and cash to fund the Litigation Trust.

Sino-Forest intends to hold a meeting of creditors in respect of the Amended Plan on November 29, 2012 (the "Meeting"). Further information concerning the Meeting and the Amended Plan is available in the meeting information statement concerning the Amended Plan that was mailed to creditors on October 24, 2012 (the "Information Statement").

In order to be effective, the Amended Plan must be approved by a majority in number of Affected Creditors with proven claims, and two-thirds in value of the proven claims held by the Affected Creditors, in each case who vote (in person or by proxy) on the Amended Plan at the meeting of Affected Creditors. The Amended Plan is also subject to the approval of the Court and to numerous conditions precedent, as well as receipt of any necessary regulatory approvals. If requisite approvals are received within the time frames anticipated, Sino-Forest intends to complete the Restructuring Transaction not later than January 15, 2013.

Sino-Forest operates and manages approximately 894,200 hectares of plantations and downstream manufacturing operations spanning eleven key provinces across China.