For almost thirty years, Jon Polonsky has helped clients resolve business disputes, primarily concerning breach of contract, breach of warranties, breach of duty, and fraud, both through litigation and through alternative dispute litigation. His clients have included financial institutions, corporations and their shareholders, officers and directors, suppliers and purchasers, service providers and their clients, insureds, franchisors, ERISA plans, and other commercial entities. In each case, he has brought to bear an understanding of potential business solutions to avoid litigation and cost-effective litigation techniques to reduce costs, as well as creative approaches to claims, defenses and motion practice. He has been the first chair in over twenty trials.
In his financial institutions practice, Jon’s engagements have included: defending a federal savings association in claims for breach of contract, breach of fiduciary duty and fraudulent transfer; defending a mutual holding company bank and its directors against shareholder claims of breach of fiduciary duty; defending a board against claims relating to a second stage conversion for a mutual holding company bank; defending a lending company against breach of contract claims; defending an acquiring bank against claims of aiding and abetting breach of fiduciary duty; defending an insurance company management and consulting firm and its officers against claims of breach of duty and contract; prosecuting class claims for foreign investment funds against a New York based Ponzi scheme and its auditors and accountants; and prosecuting claims on behalf of an investment fund against a depositary bank for breach of contract.
In his bankruptcy practice, Jon has represented trustees, examiners, creditors committees, equity committees, and creditors in litigation concerning fraudulent transfers, equitable subordination, preferences, breach of fiduciary duty, mismanagement, and conflicts of interest. He has represented official committees in proceedings for four hospitals, a residential real estate project, a technology company, a manufacturing company and a hedge fund. He has also represented creditors in work-outs and restructurings involving residential and commercial real estate, aircraft leases, refineries and manufacturing facilities. In 2011, he was recommended in the area of Corporate Restructuring by Legal 500 US.
In his securities litigation practice, Jon has prosecuted and defended class, derivative and private securities actions involving claims for 10b-5 securities fraud, common law fraud, and claims against parents and controlling shareholders, directors, officers, accountants, auditors and lenders. He has also conducted internal investigations under the Foreign Corrupt Practices Act and for fraud and other criminal activities.
Prior to entering private practice, Jon served as a Senior Trial Attorney in the Economic Crimes Bureau of the Brooklyn District Attorney's Office, investigating and prosecuting insurance fraud, bank and credit card fraud, forged documents and false statements, arson, labor racketeering, extortion and embezzlement.
Professional & Community Activities
Association of the Bar of the City of New York, Member
American Bankruptcy Institute, Member
American Bar Association, Section of Business Law, Business Bankruptcy Committee, Member
Appleby Foundation, Former Board Member
The Quarterly, Former General Counsel
Rebecca Kelly Ballet Company, Former Board Member
Rye Brook Board of Zoning Appeals, Past Member
Rye Brook United, Pro Bono Counsel
Yale Legal Services Organization, Past Board Member
Yale Legal Services Program, Past Co-Director