Jeff Krieger is a partner at Greenberg Glusker and a specialist in bankruptcy-related matters. He joined the firm in October of 1991 after a stint as a summer associate during law school. He returned after graduation and became a partner in 1998.

Jeff’s practice is broad and encompasses both creditors and debtors, as well as clients whose business dealings are potentially affected by financial distress, whether involving a vendor, a customer, business partner or simply a stakeholder. By combining strategic, high-level counsel with deep expertise in the procedural elements of bankruptcy law, Jeff assists his clients in managing the risks presented by bankruptcy proceedings and maximizing the opportunities.

Whenever someone engaged in a business undertaking becomes involved, even obliquely, in Chapter 11, it affects everyone connected with them. By strategizing early and acting decisively in these situations, Jeff’s clients can often either limit their potential exposure, take advantage of a newly uncovered opportunity, or both.

Although he has counseled clients in a range of industries, real estate and entertainment (particularly production studios and television companies) are two of Jeff’s primary industry verticals. For these clients, he often acts as a kind of Distant Early Warning system when a party with whom they have business dealings—say, a contractual relationship—either enters Chapter 11 or begins exhibiting signs of financial distress. In these situations, Jeff works with a client to evaluate the situation, and review the key tactical issues: “How do I protect myself?”; “Can I continue to do business with this company?”; “How do we collect what we’re owed?”; and “When should we terminate this arrangement?”

Jeff’s experience and strategic sense often enable him to utilize bankruptcy as a source of competitive advantage for his clients. For example, this may involve purchasing an asset from a bankrupt entity at a significant discount using Section 363 proceedings. It may also mean enabling a client to recover assets that were assumed to be unavailable by carefully reviewing the bankruptcy filings and the debtor’s status. An example of this might be a subordinated creditor who, unexpectedly, had not been required by the senior creditor to waive the right to marshall assets and consequently recovered over one million dollars for the client. Jeff has a wide array of tools in his legal toolbox and will use the most effective one for the business situation at hand.

Bankruptcy is, despite all the legal issues involved, ultimately a business situation. In that context, Jeff recognizes that a negotiated resolution is usually preferable to a litigated one.  A practical solution that’s based on a business-oriented analysis of the cost and benefits of different options is almost always superior to heading for the courthouse. Jeff’s ability to do this is informed by an intimate, firsthand knowledge of the bankruptcy bench—his longstanding working relationship with Southern California bankruptcy judges gives his arguments impact—they listen because they know him. Effective arguments and practice before the bankruptcy bench can often forestall the need to make arguments elsewhere later.

As is so often the case in business, the ultimate effect of bankruptcy proceedings depends in large measure on how they’re managed.  What initially appears to be an unworkable or very negative situation can often contain significant latent advantages. Utilizing a combination of strategic thinking and planning, and careful, expert guidance through the nuances of bankruptcy statutes and procedure, Jeff insures the best possible outcome for his clients and converts latent advantages into tangible ones.