Jonathan Young

Jonathan W. Young


Partner

 

Overview

Jonathan Young is 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 substantial experience in private equity, advertising and media, technology and telecommunications, life sciences, audit and accounting and insurance.

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
  • Representing a participant in a revolving credit facility in the Chapter 11 proceedings of its retail Loan Parties 
  • Representing a reorganized debtor in an adversary proceeding challenging the authorization and enforceability of various transactions undertaken following the Effective Date under the confirmed Chapter 11 plan
  • Representation of mezzanine lender in strict foreclosure and related restructuring transactions
  • Representing agent and lender in wind down of corporate borrower and liquidation of collateral
  • Representation of the State of Vermont as creditor and plan financer in the Chapter 11 proceedings of hospital and federally qualified health center
  • 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

Representative Experience

Jonathan’s representative experience includes:

  • 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 U.S. 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 U.S. Court of Appeals for the First Circuit, which upheld the district court's ruling in favor of our client, a substantial hospital and health care 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 health care 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.)

Reported Decisions

  • 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

  • Board Member, Chicago Committee Advancing Minority Attorneys (2007-2013)
  • Member, American Bankruptcy Institute
  • Named, Chambers USA, Restructuring and Insolvency (2013-2020)
  • Named, The Best Lawyers in America®, Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law (2021)
  • Recognized, Global Restructuring Review 100 (2019)
  • Named, Illinois Super Lawyers®, Bankruptcy (2009-2020)