Sino-Forest keeping OSC in dark about committee’s probe: report
VANCOUVER — Sino-Forest Corp. has failed to respond to information requests by the Ontario Securities Commission, according to a Globe and Mail report.
It cites a senior OSC investigator as saying the timber company has not yet provided information about its assets and relationships with key business partners in China.
Wayne Vanderlaan said in a sworn affidavit that Sino-Forest has not replied to requests made Dec. 7, 2011 regarding claims that the company’s “cash balances, timber assets, book values and revenues” were “verified” by an independent committee of directors.
Vanderlaan told the Globe that the OSC letter asked the independent committee “a number of questions” about Sino-Forest’s statement that the committee’s review verified these assets, but the OSC has not received specific responses. READ MORE...
| Posted by The Canadian Press on Jan 27, 2012 | ||
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