Sino-Forest says its auditor has resigned
TORONTO, April 5
TORONTO, April 5 (Reuters) - Embattled Chinese forestry company Sino-Forest, which was recently granted creditor protection by a Canadian court, said on Thursday its auditor Ernst & Young LLP has resigned, effective immediately.
Sino-Forest, whose stock tanked last year after a short-seller accused it of exaggerating its assets, was granted protection by the Ontario Superior Court of Justice under the Companies' Creditors Arrangement Act, the equivalent of U.S. Chapter 11 filing.
Sino-Forest has not filed audited financial results for 2011, as it has been unable to address all of the allegations made against the company.
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