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Sino-Forest
Sino-Forest Corporation (Sino-Forest) () () claimed at one time to be one of the leading commercial forest plantation operators in China. In 2011, the company was accused of fraud and found itself under investigation by the Royal Canadian Mounted Police and the Ontario Securities Commission. On March 30, 2012 Sino-Forest filed for bankruptcy protection in Canada. It also announced that the company would be sold or restructured, with the proceeds going to its creditors. On July 13, 2017, the OSC released its decision finding that Sino-Forest and four individuals, including former CEO Allen Chan, committed fraud. It is not to be confused with China Forestry Holdings Ltd. (HK:0930) or the Chinese state-owned China Forestry Group Corporation (CFGC).'' History The company was formed in 1994 and subsequently claimed that its principal businesses included the ownership and management of tree plantations and complementary manufacturing of downstream engineered-wood products. The compan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Muddy Waters Research
Muddy Waters Research LLC is an American privately held due diligence based investment firm that conducts investigative research on public companies while also taking investment positions that reflect their research. The firm has exposed accounting problems and fraud at several companies, primarily in China but also in other countries in Asia, Europe and North America. The firm is best known for spotting fraud at Sino-Forest Corp, a Canadian-listed Chinese company whose stock fell 74 percent before it eventually filed for bankruptcy protection in March 2012. History Muddy Waters was founded by Carson Block, an American short-seller. The company is named after the Chinese proverb "muddy waters makes it easy to catch fish" (). In January 2015, the firm raised an initial $100 million for its investment strategy. Investments Report on Sino-Forest Muddy Waters gained notability on 2011 following the release of a negative research report on Sino-Forest Corp, in which Muddy Wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategic Lawsuit Against Public Participation
Strategic lawsuits against public participation (also known as SLAPP suits or intimidation lawsuits), or strategic litigation against public participation, are lawsuits intended to censor, intimidate, and silence critics by burdening them with the cost of a legal defense until they abandon their criticism or opposition. In a typical SLAPP, the plaintiff does not normally expect to win the lawsuit. The plaintiff's goals are accomplished if the defendant succumbs to fear, intimidation, mounting legal costs, or simple exhaustion and abandons the criticism. In some cases, repeated frivolous litigation against a defendant may raise the cost of directors and officers liability insurance for that party, interfering with an organization's ability to operate. A SLAPP may also intimidate others from participating in the debate. A SLAPP is often preceded by a legal threat. SLAPPs bring about freedom of speech concerns due to their chilling effect and are often difficult to filter out and pe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies' Creditors Arrangement Act
The ''Companies' Creditors Arrangement Act'' (CCAA; french: Loi sur les arrangements avec les créanciers des compagnies) is a statute of the Parliament of Canada that allows insolvent corporations owing their creditors in excess of $5 million to restructure their business and financial affairs. The CCAA within the Canadian insolvency regime In 1990, the British Columbia Court of Appeal discussed the background behind the introduction of the CCAA in one of its rulings: The Supreme Court of Canada did not have a chance to explain the nature of the CCAA until the groundbreaking case of ''Century Services Inc. v. Canada (Attorney General)'' in 2010. In it, a detailed analysis was given in explaining the nature of insolvency law in Canada. The ''Bankruptcy and Insolvency Act'' (BIA) provides a more rules-based approach for resolving a corporate debtor's insolvency, which must be observed strictly. The CCAA, on the other hand, provides a more discretionary approach that is remedi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Paulson
John Alfred Paulson (born December 14, 1955) is an American billionaire hedge fund manager. He leads Paulson & Co., a New York-based investment management firm he founded in 1994. He has been called "one of the most prominent names in high finance", "a man who made one of the biggest fortunes in Wall Street history," and a "hedge fund swindler". His prominence and fortune were made in 2007 when he earned almost $4 billion and was transformed "from an obscure money manager into a financial legend" by using credit default swaps to effectively bet against the U.S. subprime mortgage lending market. In 2010, Paulson earned $4.9 billion. The ''Forbes'' real-time tracker estimated his net worth at $4.2 billion as of May 2020. Early life and education Paulson was born on December 14, 1955, in Queens, New York, the third of four children of Alfred G. Paulson (1924–2002) and Jacqueline (née Boklan, 1926–2018). [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ernst And Young
Ernst & Young Global Limited, trade name EY, is a multinational professional services partnership headquartered in London, England. EY is one of the largest professional services networks in the world. Along with Deloitte, KPMG and PricewaterhouseCoopers (PwC), it is considered one of the Big Four accounting firms. It primarily provides assurance (which includes financial audit), tax, consulting and advisory services to its clients. Like many of the larger accounting firms in recent years, EY has expanded into markets adjacent to accounting, including strategy, operations, HR, technology, and financial services consulting. EY operates as a network of member firms which are structured as separate legal entities in a partnership, which has 312,250 employees in over 700 offices in more than 150 countries around the world. The firm's current partnership was formed in 1989 by a merger of two accounting firms; Ernst & Whinney and Arthur Young & Co. It was named Ernst & Young until ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Standard & Poors
S&P Global Ratings (previously Standard & Poor's and informally known as S&P) is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities. S&P is considered the largest of the Big Three credit-rating agencies, which also include Moody's Investors Service and Fitch Ratings. Its head office is located on 55 Water Street in Lower Manhattan, New York City. History The company traces its history back to 1860, with the publication by Henry Varnum Poor of ''History of Railroads and Canals in the United States''. This book compiled comprehensive information about the financial and operational state of U.S. railroad companies. In 1868, Henry Varnum Poor established H.V. and H.W. Poor Co. with his son, Henry William Poor, and published two annually updated hardback guidebooks, ''Poor's Manual of the Railroads of the United States'' and ''Poor's Directory of Railway Officials''. In 1906, Luther ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fraud In Canada
In law, fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law (e.g., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compensation) or criminal law (e.g., a fraud perpetrator may be prosecuted and imprisoned by governmental authorities), or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong. The purpose of fraud may be monetary gain or other benefits, for example by obtaining a passport, travel document, or driver's license, or mortgage fraud, where the perpetrator may attempt to qualify for a mortgage by way of false statements. Internal fraud, also known as "insider fraud", is fraud committed or attempted by someone within an organisation such as an employee. A hoax is a distinct concept that involves deliberate deception without the intention of gain or of materially damaging or depriving a victi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Scandals
A corporate collapse typically involves the insolvency or bankruptcy of a major business enterprise. A corporate scandal involves alleged or actual unethical behavior by people acting within or on behalf of a corporation. Many recent corporate collapses and scandals have involved false or inappropriate accounting of some sort (see list at accounting scandals). List of major corporate collapses The following list of corporations involved major collapses, through the risk of job losses or size of the business, and meant entering into insolvency or bankruptcy, or being nationalised or requiring a non-market loan by a government. List of scandals without insolvency * Australia & New Zealand Banking Group scandal involving misleading file notes in the Financial Ombudsman Service (Australia) presented to the Supreme Court of Victoria. * Australia & New Zealand Banking Group allegations of racial bigotry toward billionaire businessman Pankaj Oswal and his wife. Court was presented ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accounting Scandals
Accounting, also known as accountancy, is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms. Accounting can be divided into several fields including financial accounting, management accounting, tax accounting and cost accounting. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers; and management accounting focuses on the measurement ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Forest Products Companies Of China
A forest is an area of land dominated by trees. Hundreds of definitions of forest are used throughout the world, incorporating factors such as tree density, tree height, land use, legal standing, and ecological function. The United Nations' Food and Agriculture Organization (FAO) defines a forest as, "Land spanning more than 0.5 hectares with trees higher than 5 meters and a canopy cover of more than 10 percent, or trees able to reach these thresholds ''in situ''. It does not include land that is predominantly under agricultural or urban use." Using this definition, '' Global Forest Resources Assessment 2020'' (FRA 2020) found that forests covered , or approximately 31 percent of the world's land area in 2020. Forests are the predominant terrestrial ecosystem of Earth, and are found around the globe. More than half of the world's forests are found in only five countries (Brazil, Canada, China, Russia, and the United States). The largest share of forests (45 percent) are in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
China Medical Technologies
China Medical Technologies, Inc. (CMED) was a Cayman Islands corporation based in China, currently in liquidation following fraud allegations. It purported to develop, manufacture, and market advanced in vitro diagnostic ("IVD") products using enhanced chemiluminescence ("ECLIA") technology, fluorescent in-situ hybridization ("FISH") technology, and surface plasmon resonance (“SPR”) technology to detect and monitor various diseases and disorders.''In the Matter of China Medical Technologies, Inc.'' Order, 11 October 2012, SEC.gov. CMED ceased operating in early 2012, leaving investors unpaid on $426 million worth of as a result of a suspected |
Financial Post
The ''Financial Post'' was an English Canadian business newspaper, which published from 1907 to 1998. In 1998, the publication was folded into the new ''National Post'',"Black says Post to merge with new paper". ''The Globe and Mail'', July 23, 1998. although the name ''Financial Post'' has been retained as the banner for that paper's business section and also lives on in the ''Post''s monthly business magazine, ''Financial Post Business''. The ''Financial Post'' started publication in 1907 by John Bayne Maclean."Publishing Inc. on the move". ''The Globe and Mail, April 9, 1983. It was a weekly publication, and one of the core assets of Maclean's media business, which eventually became Maclean-Hunter. The paper was purchased by Sun Media in 1987, and expanded into a daily tabloid on February 1, 1988, and added home delivery newspaper in 1990, with a reformatted ''Financial Post Magazine'' following shortly after. In 1998, Sun Media sold the ''Financial Post'' to Hollinger, whos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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