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Ron J. Nordstrom, CIRP
Senior Vice President
Corporate Recovery & Restructuring
Personal Insolvency
Phone (780) 442 -1989
rnordstrom@alger.ca
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Professional Highlights
Ron joined Alger & Associates in January 2005 to further assist in developing the Corporate Recovery practice with primary focus on the Edmonton market. Ron will also support the growth of the personal insolvency practice in Edmonton.
Ron was a Vice President in the Business Recovery practice of one of the Big 4 accounting firms. Ron has over 20 years of experience primarily in the corporate recovery and restructuring area in Edmonton and is a Chartered Insolvency and Restructuring Professional and Licensed Trustee in Bankruptcy.
Areas of Experience
- Acting as a privately or court appointed Receiver and Manager and Trustee in Bankruptcy of numerous businesses to realize on the assets on behalf of secured creditors. In many cases, the businesses were operated for a period of time to effect a going concern sale;
- Advising on financial restructuring and reorganizations using corporate provisions or provisions of the BIA, CCAA, or informally;
- Assisting secured creditors and debtors in conducting viability assessments and confidential monitoring of companies in financial distress and advising secured lenders and debtors with respect to alternatives available to restructure or liquidate;
- Advising companies in financial difficulty with regard to business plans and advice with respect to management of secured and unsecured debt;
- Assisting debtors, shareholders, secured lenders, RCMP and other authorities with fraud based investigations;
- Assisting debtors in winding up corporations under formal or informal proceedings;
Ron also has considerable experience in the personal insolvency area while managing a practice of approximately 400 estates annually and implementing the operation of a remote storefront location.
Market Segment Experience
Ron has extensive experience in insolvency matters relating to a variety of industries including:
- Retail operations including toy wholesaler, grocery and supermarket stores, hardware, sporting goods, jewellery store chain, arms dealer, video retailers, automotive parts and accessories, clothing, office supplies, bridal registry retail chain, chain of variety stores, chain of bedroom furniture retailer; chain of pharmacies, art gallery, and home entertainment chain;
- Manufacturing - including, truck body manufacturer, power tong and related equipment, furniture and cabinet makers, metal building fabricator, concrete block manufacturers, mattress manufacturers and wholesalers; window and door manufacturer, and residential window manufacturer; commercial cheesecake manufacturer and distributor;
- Real estate - including strip malls, residential homebuilders, high-rise complex; commercial business park;
- Oilfield related companies including trucking, down hole logging, hydraulic pump manufacturer;
- Construction - sale of $30 million hog processing facility that was under construction, monitor of mechanical engineering firm to oversee completion of various projects;
- Transportation - Oversaw and managed the operations and disposition of the assets and operations of Canada's largest moving company agency with 17 branches across Canada, including 800 units of rolling stock, over 10,000 long-term storage contracts and resolution of various competing claims and reviewable transactions. Other transportation related businesses include automotive parts and accessories, trucking companies; automotive, recreational vehicle, marine, motorcycle and snowmobile dealers and auto rental agencies,
- Trustee of houseboat timeshare marketing company and effecting settlement of various competing claims;
- Service industry including, fitness clubs, hair salons, flight training school, computer training school, environmental clean-up company;
- Agricultural including producer and feed mill operations, farm implement dealers;
- Hospitality including full service hotels, motels, restaurants and country jamboree theme park;
- Trustee of riverboat operation in Edmonton involving the completion and sale of the vessel;
- First Nations, acted as Trustee in Bankruptcy for band owned construction companies;
- Acted as Receiver and Liquidator of various offshore banks under the Off Shore Banking Act in the Eastern Caribbean including forensic examination and asset recovery;
- Seconded to the RCMP Commercial Crime division to assist in various fraud investigations.
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Professional, Community, and Social Affiliations
- Member, Canadian Association of Insolvency and Restructuring Professionals
- Member, Alberta Association of Insolvency and Restructuring Professionals
- Member, Edmonton Credit Association
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