Receivership for Alliance Select?

IS it time to place Alliance Select Foods International Inc. under receivership to protect the interests of the company’s public stockholders? Never mind the majority and significant stockholders who, being represented in the company’s seven-person board, can well fend for themselves.

In a receivership, a management committee is formed to study whether a distressed company should be rehabilitated or liquidated. In case of rehabilitation, a new team is formed to bring a losing company back to profitability. Shareholders of Alliance Select must be hoping the company would not fall into the second option, which is liquidation.