Sino-Forest still operating in China?!

[avunculus]

being delisted in Canada does not seem to affect its operation in China. its business is now under the name Sinomaple (http://www.sinomaple.com.cn/). On its website, it says it is part of Emerald Plantation Holdings Limited, Canada, which, according to Google search, uses the domain of Sinoforest. Ironically, they claim their flooring brand is among China's top 10.

looks like no punishment mechanism is in place for such VIE companies.

[gaosl11]

you are right. they go to bankruptcy and come back again. The original lender wiped out all stocks and take over control of it. The punishment is for the investors