John E. Zummo
John Zummo
Chicago
Illinois (IL)
Bankruptcy & Creditor/Debtor Rights
Business Litigation
Business/Corporate
Profile
John E. Zummo is a shareholder in Vedder Price P.C.’s Corporate Reorganization, Bankruptcy and Insolvency and Commercial Litigation groups.
Mr. Zummo focuses his practice on representing secured and unsecured lenders in litigation, bankruptcy and receivership proceedings, as well as out-of-court workout and restructuring matters. Mr. Zummo’s practice is national, and his clients include financial institutions and equipment manufacturers involved in an array of financing transactions, including asset-backed lending and equipment financing and leasing. Mr. Zummo has significant experience prosecuting breach of contract, replevin, fraud and conspiracy claims against defaulting commercial borrowers, defending lender liability actions, representing creditors in bankruptcy main cases and adversary proceedings, negotiating workouts and restructurings of commercial loan and equipment financing arrangements and handling UCC sales. He has also represented corporate clients in a wide range of other matters, including: negotiating and documenting secured lending agreemements; inter-lender disputes; government investigations; defending class action consumer fraud, federal securities fraud and shareholder derivative claims; common-law fraud and breach of fiduciary claims; and defending mechanic’s lien claims.
Mr. Zummo has experience in all aspects of bankruptcy, litigation, appeals and post-judgment proceedings in courts throughout the country, including over 20 bench and jury trials. Prior to entering private practice, Mr. Zummo served as a Judge Advocate in the United States Navy and a Special Assistant U.S. Attorney in the Central District of California.
Selected To
Illinois Super Lawyers 2012
About John Zummo
Admitted: 1997, Illinois
Professional Webpage: www.vedderprice.com/index.cfm/fuseaction/prof.detail/object_...
Honors and Awards:
- Phi Delta Phi: legal honors fraternity., The John Marshall Law School
- Cali Award, Criminal Procedure: award for highest grade in Criminal Procedure class. , The John Marshall Law School , 1995
- Corpus Juris Secundum Award, Torts: Award for highest grade in Torts class., The John Marchall Law School , 1995
- Order of John Marshall: honor bestowed upon graduation to those in the top 15% of the class., The John Marshall Law School, 1997
- Navy and Marine Corps Achievement Medal for superior performance of duties as attorney in the US Navy JAG Cops., 1999
- Navy and Marine Corps Commendation Medal for superior performance of duties as attorney in the US Navy JAG Cops., 2001
Special Licenses/Certifications:
- Trial Bar, Northern District of Illinois; Navy-Marine Corps Courts Martials; Navy-Marine Corps Court of Appeals; admitted, US Court of Appeals for the 7th Circuit; admitted, US Court of Appeals for the 4th Circuit.
Bar/Professional Activity:
- District of Columbia Bar
- American Bankruptcy Institute
- Equipment Leasing and Finance Association.
- American Bar Association
Pro bono/Community Service:
- Mentor, The John Marshall Law School.
Verdicts and Settlements:
- Obtained summary judgment on behalf of an audit committee member and outside general counsel of a publicly traded corporation on federal securities fraud, common law fraud, negligent misrepresentation and Illinois Consumer Fraud Act claims arising out of a $74 million equipment lease securitization. (US Dist. Ct. ND IL.) The opinion is reported at 2004 WL 1977572., 2004
- Obtained multi-million dollar judgment in favor of lender on all claims against defaulting guarantors of commercial borrower’s obligations under an asset-based, revolving and term loan credit agreement. In that same action, I obtained the dismissal of the defendants’ lender-liability counterclaims and persuaded the court to strike all of the defendants’ affirmative defenses. (US Dist. Ct., MD.) The opinions are reported at 2006 WL 6000465 and 2007 WL 5417734., 2007
- Verdict in favor of secured creditor after trial (in a bankruptcy adversary proceeding) on the debtor's claim to allocate a portion of the proceeds of the sale of, among othre things, secured creditor's collateral to the bankruptcy estate. (US BK Ct., C.D., N.C.) The opinion is reported at 393 B.R. 89., 2008
- Obtained several favorable settlements on behalf of lender/equipment financier clients against defaulting lessees/borrowers, including settlements in the amount a $2.2 million and $1.9 million. , 2008
- $4.8 million judgment in favor of the lender and against borrower on all claims (including the guarantor’s fraudulent inducement defense). (Texas.), 2009
- Succesfully resolved a dispute between a lender client and a borrower (and the administrative agent and lending group) in connection with the workout of a $230 million loan syndication. The lender client ultimately received a pay off of all of the borrower's obligations to it, including costs and attorney's fees. , 2010
- Obtained summary judgment in favor of a commercial finance company, in litigation arising out of an equipment finance lease transaction, against the lessee and guarantor for breach of contract, the equipment supplier for breach of equipment sale agreement. and against the supplier’s principal for fraud and conversion, including an award of punitive damages., 2011
Transactions:
- Successfully negotiated and documented the re-financing or restructuring of several equipment financing and lending arrangements under which the client recovered in excess of its net investment (i.e. a profit). Significantly, the borrowers' obligations in all such transactions were secured by confessed judgment notes (or consent judgments), and often replevin orders (if litigation was pending), allowing for an expedited resolution in an event of default.
- Represented a member of the lending group in the workout of a $200 million syndicated revolving and term loan credit facility, in which the borrower claimed that Mr. Zummo’s client was a defaulting lender. Mr. Zummo disposed of the claims that his client was a defaulting lender—without recourse to litigation—and ultimately negotiated a full payoff of the principal, interest and fees owed to his client., 2011
Other Outstanding Achievements:
- Won a motion to dismiss all of a defaulting equipment lessee's counterclaims against the lessor. The opinion is reported at 2008 WL 2114867.
Educational Background:
- Marquette University, cum laude, 1992
- John Marshall Law School: cum laude, Order of John Marshall, 1997
Super Lawyers is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high-degree of peer recognition and professional achievement. The selection process is multi-phased and includes independent research, peer nominations and peer evaluations.
