Skiing and Restructuring - Downhill Is More Than Just a Financial Trail

Although restructuring and skiing may seem an odd pair for comparison, they share many common aspects. 

USE THE RIGHT EQUIPMENT:  Both require the right equipment and the knowledge to ensure the best course of action on days when the conditions are the worst. 

KNOW YOUR TERRAIN AND ABILITY:  Just as the type of slope and obstacles can increase your risk, a bankruptcy practitioner must look at issues of venue, jurisdiction or even the form of a proposed restructuring to reduced the chance of error.

BE PREPARED TO TURN: The ultimate path to success requires planning but also maximum flexibility to respond to changes or bumps in the road.

USE THE BEST INSTRUCTORS: The best instructors can enhance the chances of completing the run first and in one piece.

KEEP YOUR FOCUS FAR DOWN THE HILL: In both sport and law, focus must be kept far down the hill at the finish line.

SKIING ABROAD: Skills can be acquired at home, but transferable abroad.

ALWAYS LEARN AND HAVE FUN: Improvement and having fun is key to both restructuring and skiing.

This article appeared in its entirety in the March 23, 2005 edition of Daily Bankruptcy Review.