Potential buyers took a look at the assets of Sino-Forest and left screaming. No one wanted the timber assets that couldn't be verified.
Have you ever played the game of Monopoly?? It is a game of spoof and make-believe.
TRE got $3.2 billion from bondholders and equity shareholders under false pretenses. Over the years, they siphoned off the funds to themselves, their wives & related parties/relatives thru' fraudulent transactions by moving the money around in a circular fashion to create fake activities. No cash ever flowed through to Sino-Forest. The timber certificates were just worthless pieces of paper with rubber stamp. The Chinese Govt. didn't want anything to do with Sino-Forest.
The auditors E & Y have agreed to settle as they should know better as they were there helping to cook the books.