Author's Note: Rather than focusing on a particular legal issue or case, this month I asked a few friends to share some of their thoughts on effective deal making.
'Deal Doing' for Restructuring Professionals
Your Scout manual was right ' you should always be prepared. And for lawyers, clients and other advisers alike, there is no substitute for doing homework. You can't control whether you're the smartest person in the room, or whether your client has the most leverage, but you are completely in control of who will be the most prepared person in the room. An important part of preparation is knowing all of the strengths and weaknesses of your position, as well as the positions of the other stakeholders. Pre-negotiation pre-paration gives everyone a sense of their goals for the negotiation, and the point beyond which it no longer makes sense to continue negotiating.
By
James H.m. Sprayregen, Jonathan P. Friedland And Colin M. AdamsThis premium content is locked for The Bankruptcy Strategist subscribers only
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