Sino-Forest Corporation announced that the Ontario Superior Court of Justice has approved the company's Plan of Compromise and Reorganization pursuant to the companies' Creditors Arrangement Act and the Canada Business Corporations Act dated December 3, 2012. The Plan is designed to facilitate the completion of a restructuring transaction concerning, affecting and involving Sino-Forest under which, among other things, Sino-Forest will transfer substantially all of its assets, other than certain excluded assets, to a newly formed entity to be owned by the affected creditors of Sino-Forest. Court approval of the Plan satisfies a key condition precedent to implementation of the Plan.

If the remaining conditions precedent set out in the Plan are satisfied or waived within the time frames anticipated, Sino-Forest intends to implement the Plan as soon as possible and not later than January 15, 2013.