Sino-Forest default looms as probe drags on

TORONTO (Reuters) – Sino-Forest , a China-focused forestry company accused of fraud, will delay reporting its financial results again, putting it in breach of debt covenants and raising the prospect of insolvency proceedings. The company conceded in a statement on Monday that a review of the fraud charges leveled in June would extend into 2012. It had initially expected a team of its independent directors to present findings by September, but later it said the review would wind up by the end of the year. …