March 5, 2021

Volume XI, Number 64

Ronald A. Spinner

Ron Spinner brings extensive business experience to his bankruptcy practice, developing results-oriented strategies and breaking new legal ground where necessary to do so.

Indeed, Ron's ability to deal with novel situations helped tremendously in the City of Detroit bankruptcy case, where questions of first impression arose regularly. His ability to navigate the unique aspects of chapter 9 aided (and continues to aid) the City in its recovery.

As another example, Ron represented a creditor who "factored" the debtors' invoices. Courts typically characterize factoring as a "true sale" or a lending relationship (with no ground in between), oversimplifying the relationship and often leading to unnecessary conflict. Ron persuaded the court to consider the factoring arrangement as a series of individual transactions, each of which it could authorize separately. This provided the factor with strong protections, allowing the debtor to retain its funding source for its bankruptcy case. Creative application of the bankruptcy code thus resulted in a successful reorganization for the debtor and payment in full for Ron's client.

Ron's specialty is preference defense, also known as "claw back actions," where a debtor seeks to recover money that it previously paid to its creditors. By resolving these cases out of court, Ron obtains exceptional results for his clients while keeping costs down. For example, one client asked Ron to defend five such actions for it, with over $2.4 million in total potential liability. After analyzing the claims, Ron was able to negotiate reasonable resolutions in all five cases. Two were resolved for small settlement payments and the remaining three were simply dismissed by the respective debtors for no payment at all.

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Articles in the National Law Review database by Ronald A. Spinner

TRENDING LEGAL ANALYSIS