Terence G. Banich
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Member

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321 N. Clark Street, Suite 800
Chicago, IL 60654
312.980.3859
tbanich@shawgussis.com

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AREAS OF EMPHASIS
Bankruptcy Litigation, Creditors Rights and Insolvency, Commercial Litigation, Judgment Enforcement

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BAR ADMISSIONS
Illinois
District of Columbia
California

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OTHER COURT ADMISSIONS
U.S. District Court for the Northern District of Illinois
U.S. District Court for the Central District of California
U.S. District Court for the Eastern District of Michigan
U.S. District Court for the Southern District of California
U.S. District Court for the Northern District of Florida
U.S. Court of Appeals for the Seventh Circuit
U.S. Court of Appeals for the Tenth Circuit
U.S. Court of Appeals for the Sixth Circuit
U.S. Court of Appeals for the Eleventh Circuit

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EDUCATION
B.A. (Honors Program), magna cum laude, University of San Diego, 1996
J.D., cum laude, Loyola University Chicago, 1999

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A seasoned trial attorney with broad experience in commercial and bankruptcy-related litigation, Terence Banich focuses his practice on bankruptcy litigation, in which he has represented debtors, creditors, trustees, and other interested parties in various types of adversary proceedings and contested matters arising out of chapter 7 and 11 cases. He also frequently represents court-appointed independent fiduciaries and equity receivers.

Since he began his career at Jenner & Block LLP in 1999, he has represented and counseled a wide variety of clients regarding the prosecution and defense of varied sorts of civil cases, as well as litigation avoidance. Terry has established a track record for building client loyalty by delivering cost-effective, business-driven solutions to existing and potential disputes through negotiation, mediation and litigation brought in state and federal courts. A substantial part of Terry’s practice is outside of the courtroom. He is often called on to counsel clients – from large multinational corporations to a single-asset limited liability company – to resolve business disputes short of litigation by, for example, negotiating with counterparties and redrafting critical agreements.

He has also represented elected public officials, a pharmaceutical manufacturer and some of its executives as well as a major defense contractor in grand jury investigations, federal criminal trials and qui tam litigation.

Terry also has tremendous experience in construction litigation and counseling, including representing owners, contractors and subcontractors in mechanics liens, surety bond and contract disputes.

Examples of his experience include:

  • Defended former senior officers of bankrupt pharmaceutical company in a putative class action adversary proceeding brought by certain of the debtor’s equity holders seeking to equitably subordinate the officers’ claims. Secured order dismissing the plaintiffs’ equitable subordination claim with prejudice.

  • Managed litigation that obtained favorable judgment protecting priority of bank’s mortgage lien in and to assets of insolvent Florida condominium developer against competing construction liens, mortgage liens and purported equitable liens.

  • Obtained reversal of preliminary injunction against private cable operator in ownership and service dispute with incumbent franchisee. Illinois Appellate Court reversed injunction on the day following oral argument.

    • Terry has lectured on the subjects of common construction disputes, litigation of construction claims, mechanics liens and suretyship issues. He has published articles on litigation, bankruptcy and banking topics in the Bloomberg Corporate Law Journal, the Real Estate Finance Journal and the Banking Law Journal.

    On February 15, 2012, the Banking Law Journal, one of the nation's leading legal periodicals focusing on banking issues, appointed Terry to be a member of its Board of Editors. In this capacity, Terry will author a column, "Banking Briefs," addressing recent cases decided by federal and state courts that are likely to be of interest to lawyers, bankers and other professionals.

    Terry currently serves as an Adjunct Professor of Law at Loyola University Chicago School of Law, where he teaches courses on advanced civil procedure and the history of the federal judiciary.

    While in law school, Terry was a member of the Loyola University Chicago School of Law’s law review, the Law Journal. He also served as a judicial law clerk in the Circuit Court of Cook County, Illinois for the Honorable Richard E. Neville (Law Division), and the Honorable Thomas R. Fitzgerald (Criminal Division), who served as Chief Justice of the Supreme Court of Illinois from 2008 to 2010.

    Terry is a member of the American, Illinois State, California, District of Columbia, Seventh Circuit and Los Angeles County Bar Associations. He is also a member of the American Bankruptcy Institute and the Chicago Federation of Musicians. Prior to joining Shaw Gussis, Terry was a partner with the law firm of Jenner & Block LLP.

    In addition to being an attorney, Terry is a professional guitarist and bass guitarist. His interests include ancient civilizations, archaeoastronomy, urban archaeology, 1960s Cadillacs and computers and technology. Terry has published articles on the website Forgotten Chicago, a group dedicated to documenting lesser-known elements of the built environment in Chicago. One of his articles documents remnants of demolished parts of the "L," Chicago's elevated train system, and another article examines the Bloomingdale Line, a long-abandoned elevated freight line that is to be redeveloped into a linear park known as the Bloomingdale Trail.