Pensions file $6.5 billion lawsuit against Sino-Forest
Two pension funds have filed a $6.5 billion class-action lawsuit against timber company Sino-Forest Corp, along with its head executives and auditor Ernst & Young.
Troubled Mississauga-based timber company Sino-Forest has reached a deal with its noteholders, avoiding a default, but has agreed to pay an outstanding interest payment as well as a one per cent waiver fee.