Settlement agreement ends all legal proceedings with Sino-Forest Corporation Litigation Trust
Today a settlement agreement was entered into with the Sino-Forest Corporation Litigation Trust (“SFC Litigation Trust”), which will end all proceedings initiated by the SFC Litigation Trust against several subsidiaries of ÅF Pöyry AB, including the legal proceeding in Singapore and all other stayed legal and arbitration proceedings in various other jurisdictions. These proceedings related to consultancy services provided by certain direct or indirect subsidiaries of Pöyry PLC to Sino-Forest Corporation (“SFC”) from 2006 to 2011. The SFC Litigation Trust was created in December 2012 by way of SFC’s insolvency proceedings in Canada, in order to pursue claims that SFC and/or its noteholders had at that time. The settlement has no material impact on the financial position of ÅF Pöyry AB.
ÅF Pöyry AB (publ)
For further information, please contact:
Cathrine Sandegren, EVP and Head of Communications and Brand
+46 70 292 68 26
This information is information that ÅF Pöyry AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 24 August, 2020 at 7.00 CET.