Jonathan Young is national Co-Chair of the Firm's Bankruptcy, Restructuring and Insolvency practice group. He regularly advises investors, lenders, directors, equity sponsors and portfolio companies in connection with their rights and obligations relative to financial distress, insolvency and bankruptcy situations. He also advises trustees, receivers and other fiduciaries charged with reorganizing, restructuring or liquidating financially distressed entities. Jonathan also handles a wide range of complex commercial litigation matters—at both the trial and appellate level—with a particular focus on insolvency, bankruptcy and secured lending issues. While he has handled engagements in a wide range of industries, he has particularly substantial experience in private equity, advertising and media, technology and telecommunications, life sciences, audit and accounting and insurance.
Jonathan has been recognized in the Chambers USA listing of leading lawyers in the field of Restructuring and Insolvency since 2013. The 2017 edition of Chambers USA described him as “smart, levelheaded” and further noted that he is "extraordinarily thorough, articulate and very client-focused." Jonathan is AV rated by Martindale-Hubbell. He served as a member of the Firm’s Executive Committee from 2014-2016.
Jonathan’s current engagements include:
- Defending an international manufacturer and its affiliates against “control group” liability claims arising from restructuring transactions preceding an acquisition
- Advising a collateral trustee in connection with a series of indemnity, exculpation, reimbursement, and release issues arising from the Chapter 11 proceedings of its credit parties
- Representing a healthcare financer and term lender in the Chapter 11 proceedings of a group of assisted living facilities
- Advising a portfolio company in the financial services industry in restructuring its credit facilities, and evaluating strategic alternatives
- Representing a maritime term lender in connection with the Chapter 11 proceedings of its borrowers and guarantor
- Defending a group of media agencies in connection with preference and fraudulent transfer claims asserted against them by an Official Committee of Unsecured Creditors
- Advising multiple corporate clients in connection with day to day legal, financial and operational issues including risk management, cash management, treasury services, credit and collateral and supply chain considerations
- Defended the former directors and officers of Cardiac Science Corporation against $50,000,000 breach of fiduciary duty and subordination claims brought against them by Cardiac Science’s post-confirmation litigation trustee. Both the district court litigation and the bankruptcy court adversary proceeding were resolved by settlement. (Michael S. Polsky v. Vinod Ramnani et al.)(C.D. Cal.)(Bankr. W.D. Wis.)
- Represented ActiveCare Inc., and its wholly-owned subsidiary, 4G Biometrics, LLC, in the sale of substantially all of its assets under Sections 105, 363 and 365 of the United States Bankruptcy Code, to Telcare Medical Supply, LLC, a subsidiary of Biotelemetry, Inc. (NASDAQ: BEAT), a leading developer of mobile and wireless medical monitoring devices
- Defended an appeal to the United States Court of Appeals for the First Circuit, which upheld the district court's ruling in favor of our client, a substantial hospital and healthcare network. The bankruptcy court had previously entered an order holding our client liable for certain legacy employment obligations following the client's acquisition of a hospital. We persuaded both the district court and the First Circuit that subject matter jurisdiction was lacking. Gupta v. Quincy Medical Center, a Steward Family Hospital Inc., 858 F.3d 657 (1st Cir. June 2, 2017).
- Prosecuted an adversary proceeding on behalf of a Chapter 11 Debtor operating a proton therapy center. We sought declaratory relief as to a number of pending disputes with the Debtor’s healthcare service provider. The adversary proceeding was resolved by settlement. In re California Proton Therapy Center, LLC (Bankr. D. Del.)
- Represented a substantial trading partner, creditor and Unsecured Creditors Committee member in the Chapter 11 proceedings of an international telecommunications company. In re NII Holdings, Inc. (Bankr. S.D.N.Y.)
- Represented a supplier and creditor in the Chapter 11 proceedings of a consumer electronics company, prosecuting reclamation demand and administrative claims, and defending against preference claims. In re RadioShack Corp. (Bankr. D. Del.)
- Represented and defended six former directors and officers of Tribune Company and its subsidiaries in connection with lawsuits brought on behalf of Tribune’s bankruptcy estates in connection with the 2007 leveraged buyout of the company. Claims asserted included breach of fiduciary duty, fraudulent transfer and avoidance of preferential transfers. In re Tribune Company et al. (Bankr. D. Del.)(multi-district litigation pending in the Southern District of New York).
- Represented and defended an equity holder of Chapter 11 Debtor Greenwich Sentry, L.P. in connection with a lawsuit to recover redemption payments made pursuant to the limited partnership agreement. Claims asserted include unjust enrichment, mistaken payment and constructive trust. Greenwich Sentry, L.P. v. Greer (D. Del.)
- Defended a substantial servicer of bankruptcy claims in a putative class action filed in the U.S. Bankruptcy Court for the Eastern District of Wisconsin. The case addressed the level of due diligence required in the secondary bankruptcy claims market prior to filing or accepting an assignment of a proof of claim. The case was ultimately settled on terms acceptable to all parties, with no class certified. Knievel N. Porter et al. v. Resurgent Capital Services, LLC. (E.D. Wis.)
- Represented one of the largest trade creditors in the Chapter 11 proceeding of General Motors Corporation. In re Motors Liquidation Corporation. (Bankr. S.D.N.Y.)
- Gupta v. Quincy Medical Center, a Steward Family Hospital, Inc., 858 F.3d 657 (1st Cir. 2017)
- Continental Casualty Company v. SouthTrust Bank, N.A., 933 So.2d 337, Ala. 2006
- In re Pre-Press Graphics Co., Inc., 307 B.R. 65, N.D. Ill. 2004
- In re MEI Diversified, 106 F.3d 829, 8th Cir. 1997
- People v. Goldsberry, 259 Ill. App. 3d 11, Ill. App. Ct. 1994
Professional Affiliations and Recognitions
- Recognized in the 2019 edition of the Global Restructuring Review 100
- Chicago Committee Advancing Minority Attorneys, Board Member, 2007-2013
- Member, American Bankruptcy Institute
- Recognized, Illinois Super Lawyers (2009-2020)