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T: +1 213.229.7995
F: +1 213.229.6995

Los Angeles Office
333 South Grand Avenue
Los Angeles, CA 90071-3197, USA


Jeffrey C. Krause is a partner in the Los Angeles office of Gibson, Dunn & Crutcher. He currently serves as Co-Chair of the firm's Business Restructuring and Reorganization Practice Group.  He has a broad corporate restructuring practice and has handled significant debtor and creditor committee representations, as well as representations of acquirers of assets from chapter 11 debtors, lessors and secured and unsecured creditors.  He is a fellow of the American College of Bankruptcy, and was named Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Lawyer of the Year 2017 for Los Angeles by Best Lawyers.

Mr. Krause has represented multiple investors in various chapter 11 cases, distressed acquisitions and out of court restructuring transactions, including the following:

  • Aurora Capital in connection with potential distressed acquisitions
  • Stone Canyon Capital in assessing potential acquisitions from chapter 11 debtors
  • Fifteen Group in bidding on potential chapter 11 acquisition
  • HomeFed Corp. in connection with multiple acquisitions throughout the western United States
  • Woodridge Capital in connection with proposals to acquire assets from chapter 11 debtors
  • Ranch Capital, LLC in multiple matters, including Seitel, Inc.'s chapter 11 case in Delaware and as the sponsor of a chapter 11 plan for Hawaiian Airlines, Inc.
  • Oaktree Capital in analyzing potential acquisitions of assets from chapter 11 debtors
  • Fortress Credit Advisors LLC in connection with analysis and bidding for assets of chapter 11 debtor in California
  • Morgan Stanley as agent for senior secured lenders in chapter 7 case of Adam Aircraft in Colorado
  • Ad hoc groups of holders of secured notes in multiple cases, including Eastern Airlines, Inc. bankruptcy case in New York

Mr. Krause has represented secured lenders in chapter 11 cases and out of court restructuring transactions, including PDL BioPharma, Inc., Direct Lend, Inc., Deutsche Bank, Kayne Saybrook, FINOVA Capital (after Berkadia acquired the right to manage FINOVA), Lend Lease, Beal Bank, Home Savings and Loan, Bank of Hawaii, CapitalSource, and the Colonial Williamsburg Foundation, as a secured creditor in the chapter 11 case of Carter's Grove, LLC.

Mr. Krause has represented debtors in chapter 11 cases and out of court restructuring transactions, including the following:

  • Daughters of Charity Health Systems in an out-of-court restructuring
  • Standard Register, a chapter 11 debtor in Delaware
  • Real Mex Restaurants, as a reorganized debtor after it exited from chapter 11
  • THQ Inc., a video game developer in chapter 11 in Delaware
  • Specific Media in its out-of-court restructuring and transfer of assets to Time, Inc.
  • R.E. Loans, LLC, a real estate lender, in its chapter 11 in Texas
  • Pacific Monarch Resorts, Inc., a time share developer, in chapter 11 in California
  • Falcon Products, a furniture manufacturer, in chapter 11 in Missouri
  • Boston Chicken, dba Boston Markets, a restaurant chain in chapter 11 in Arizona
  • Lindquist & Craig Hotels, a hotel and resort owner/operator in chapter 11 in California
  • Verco Industries, a defense contractor in Santa Ana, California
  • DeKalb Poultry Research, Inc., an egg producer in chapter 11 in Rockford, Illinois
  • Watts Health Foundation, Inc., an HMO and clinic operator, in a chapter 11 case in Los Angeles     

Mr. Krause has represented multiple committees, including the following:

  • Represented the official committee of unsecured creditors in the chapter 11 case of Azabu Buildings
  • Represented the official equity committee in the chapter 11 case of AMERCO
  • Represented the official committee of unsecured creditors in the chapter 11 case of FORBCO
  • Represented a member of an unofficial committee of secured bondholders in the chapter 11 case Eastern Airlines

Mr. Krause has represented defendants in preference actions, fraudulent transfer actions and large, complex commercial disputes, including lender liability claims.  Mr. Krause frequently advises boards and shareholders on fulfilling fiduciary duties and minimizing litigation risks when the companies they serve encounter financial distress.

Mr. Krause attended the University of California at Los Angeles, where he received his B.S. in Economics in 1977, and his J.D. in 1980.  Mr. Krause served on the UCLA Law Review, and was elected to the Order of the Coif.

Mr. Krause is the author of: "California Real Property Financing: Bankruptcy and Secured Real Property Transactions," CEB, 1989 (Contributing Author); Steinberg, Bankruptcy Litigation, 1989 (Contributing Author); "Whose Lawyer Are You: Fiduciary Obligations of Debtor in Possession's Counsel," 31 Beverly Hill Bar Ass'n Journal, Vol. 2 (1997); "In a Class All Their Own," Vol. 20, No. 5, Los Angeles Lawyers 42 (July-August 1997); "Appellate Practice Educational Materials for Federal Judicial Center Programs for New Bankruptcy Appellate Panel Judges," (1996 and 1997); "The Bias of the Courts Against Single Asset Real Estate Cases is Creating Bad Law in the Area of Classification," 22 Cal. Bankr. J. 45, 1994; "United States Trustee Guidelines Regarding Prepetition Retainers," 18 Cal. Bankr. J. 135, 1990; "Treatment of Prepetition Retainers," 17 Cal. Bankr. J. 153, 1989; "Foreclosure Sales Should Not Be Treated As Fraudulent Transfers," 1 ABA Bankr. Litigation Newsletter 7 (1993); "Non-Collusive Foreclosure Sales of Real Property Are Not Avoidable As Fraudulent Transfers," 3 ABA Bankr. Litigation Newsletter 18 (1995); Consultant, Bernhardt, California Mortgage and Deed of Trust Practice (2d ed. 1989 CEB).

Mr. Krause has served as an Adjunct Professor, University of Southern California School of Law, 1994-2000 and 2002; Loyola School of Law, 1987 and 1988. He is a member of the Los Angeles County Bar Association (Former Member of Executive Committee of Section on Commercial Law and Bankruptcy and Past Chair of Pro Bono Debtor Assistance Project) and the American Bar Association (Member, Sections on Litigation and Business Law; Past Co-Chairman of Bankruptcy and Insolvency Committee of the Litigation Section); The State Bar of California (Former Member, UCC Committee, Business Law Section, 1987-1990; Former Member, Debtor-Creditor Committee, Business Law Section, 1992-1995); Los Angeles Bankruptcy Forum (Past President); California Bankruptcy Forum (Former Director); Financial Lawyers Conference (Former Board Member, 1999-2002).  He is the President of Turnaround Management Association, Southern California Chapter and Co‑Chair of the 2017 Turnaround Management Association Western Regional Conference.

In 2017, Mr. Krause was selected as a ranked lawyer in Chambers USA: America's Leading Lawyers for Business.  He has also been recognized by The Best Lawyers in America in the area of Bankruptcy and Creditor Debtor Rights and Insolvency and Reorganization Law for more than a decade.

Mr. Krause is a frequent speaker on restructuring topics.  During 2014-2016, Mr. Krause participated in the following educational programs: USC Gould School of Law Real Estate Law and Business Forum: Real Estate Valuation in Workouts and Chapter 11 Bankruptcy Cases and Other Valuation Triggering Events; Los Angeles Bankruptcy Forum: Be WARNed: Risks of Liability for Insiders, Secured Lenders and Buyers for Unpaid Employment Related Claims; Turnaround Managers Association, Southern California Chapter: Distressed Valuations – "What is the Right Real Estate Valuation Approach and How to Plead Your Case!";  UCLA School of Law School and Financial Lawyers Conference: Bankruptcy Nuts and Bolts all day seminar: Asset Sales under Bankruptcy Code section 363 and Executory Contracts under Bankruptcy Code section 365; Turnaround Managers Association, Annual Western Regional Conference: Litigation of Valuation Issues for Operating Businesses and Cramdown Interest Rates After Momentive; California Receiver's Forum, Labor and Employment Issues for Receivers Administering Operating Business; American Bankruptcy Institute Battleground West, Healthcare Restructuring; and Los Angeles Bankruptcy Forum, Recent Developments Debate Program.

Reported Cases:  In re Felburg, 39 Bankr. 591 (Bankr. C.D. Cal. 1984); Pistole v. Mellor (In re Mellor), 734 F.2d 1396 (19th Cir. 1984); In re Safren, 65 Bankr. 566 (Bankr. C.D. Cal. 1986); Black & White Cattle Co. v. Shamrock Farms Co. (In re Black & White Cattle Co.), 30 Bankr. 508 (Bankr. 9th Cir. 1983), rev'd., 746 F 2d 1484 (9th Cir. 1984); Black & White Cattle Co. v. Granada Services, Inc. (In re Black & White Cattle Co.), 783 F.2d 1454 (9th Cir. 1986); In re Lindsay, 59 F.3d 942 (9th Cir. 1995); In re Falcon Products, Inc., 497 F.3d 838 (8th Cir. 2007).


  • University of California - Los Angeles - 1980 - Juris Doctor
  • University of California - Los Angeles - 1977 - Bachelor of Science


  • California Bar