Please fully explain the corporate governance failure in Sino-Forest Corporation, a Hong Kong listed

company.

(You must outline briefly the background of the case, explain why and how the matters arose, analyse the related corporate governance issue(s) and identify any implication(s) of the case on the operation and development of corporate governance framework in the country/jurisdiction or region, and comment on the roles and duties of the parties and stakeholders, as appropriate and necessary for the case. )