September 4, 2020
Alasko Foods Inc. and Alasko Foods LLC, a Montreal, Quebec-based company that specializes in the distribution of frozen fruits and vegetables, was placed in receivership on September 4, owing approximately $26.9 million to PNC Bank Canada. According to a Global News report, Cesar Ramirez — the owner of Frutti di Bosco, a Chilean fruit trading company — alleged that he had colluded with Alasko Foods Inc. to ship fraudulently labelled raspberries to Canada, although the company has denied these claims. Prior to the issuance of the receivership order, the companies had engaged Raymond Chabot to run a Sale and Investor Solicitation Process to identify and solicit potential buyers and investors. On October 13, the receiver, Raymond Chabot, and a purchaser agreed to a final form of an Asset Purchase Agreement whereby the receiver would sell substantially all of the companies' assets to the purchaser, minus the company's assets which are located in Ingersoll, Ontario. Fasken is counsel to the receiver.