Restructuring Moves Continue as Katten Takes Partners From Fox Rothschild, Akerman

Banich and Mitchell Terence Banich, partner, Katten, Chicago (left), and John Mitchell, partner, Katten, Dallas. (Courtesy photos)

Katten Muchin Rosenman[1] hired two insolvency and restructuring partners on Tuesday—one in Chicago and one in Dallas—as the firm continues to expand a practice area that has been booming in recent months due to COVID-19′s severe effect on many businesses.

The most recent additions are Terence Banich, who was a co-chair of the bankruptcy litigation practice group at Fox Rothschild[2] in Chicago, and John Mitchell, a partner at Akerman[3] in Dallas.

So far this year, Katten has hired six other insolvency and restructuring attorneys, including three in New York, two in London and one in Dallas.

John Sieger, the chair of Katten’s involvency and restructuring practice, said in a press release that Banich and Mitchell add “depth and breadth” to the firm’s team at a busy time.

“Terry and John both bring broad experience and keen understanding of the issues distressed companies face,” he wrote.

Banich focuses on commercial and bankruptcy litigation and has represented a range of clients in Chapter 11 and Chapter 7 proceedings. Mitchell works in all areas of commercial restructuring and reorganizing, representing lenders, creditors and debtors. His clients are in the energy, oil and gas, manufacturing, retail and restaurant, commercial finance and transportation industries.

He was a lieutenant in the US Army during Operation Desert Storm.

Banich isn’t the only loss for Fox Rothschild on Tuesday. Cozen O’Connor picked up[4] eight lawyers for its bankruptcy, insolvency and restructuring practice, including two who were co-chairs of the bankruptcy and restructuring practice at Fox Rothschild. Seven of the eight new Cozen O’Connor members are in Chicago and the other in Wilmington, Delaware.

Fox Rothschild declined comment on Banich’s departure. In a statement about the group that left Fox for Cozen, Fox managing partner Mark Morris said Michael Sweet will now chair the bankruptcy and restructuring practice there. Akerman provided this statement: “John is a fine lawyer and we wish him well.”

Katten’s recent insolvency and restructuring engagements, according to the firm, include Barneys, Neiman Marcus, Windstream, Frontier Communications, J.C. Penney, Le Pain Quotidien and Cirque du Soleil.

Amid Flood of Bankruptcy Filings, Cozen O’Connor Takes 8-Lawyer Fox Rothschild Group[5]

As Oil Prices Slip, Texas Firms Are Adding Bankruptcy Lawyers[6]

Eyeing Restructuring Demand, McDermott Bolsters Transactions Practice With Katten Laterals[7]

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