Appellate court issues TRO on Alliance Select

THE Court of Appeals (CA) has ruled in favor of the Singaporean investors of Alliance Select Food International Inc. against the firm’s directors in a year-long internal conflict involving the dilution of the Singaporeans’ interests in the tuna cannery.

In a disclosure to the Philippine Stock Exchange, Alliance Select said the CA issued a temporary restraining order (TRO) “to reverse and set aside the Pasig Regional Trial Court (RTC) Resolution” which dismissed the complaint of the Singaporean investors against Alliance Select’s directors and corporate secretary.