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Mar 25 Attorney Articles, Recovery Resources

Planning for Recovery – Starting Now

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Like all of you, my colleagues and I have been absorbing the sudden change in our world. We’re social creatures by nature, and crave interaction with our community. At the same time, we know – for the sake of that very community – we have to keep our distance. And thus we shall weather this storm – this shutdown is part of the solution, and our great city and our great nation will get through it. Here’s our approach to the path ahead.

Relax.  Take a deep breath. (Maybe not so close to other people, but deep nonetheless.)  Exhale. This shall pass. Over the next few weeks and months, our city and nation will be finding the way forward. Civilization has weathered worse storms. We have a vast and vibrant body of scientific knowledge that has never existed. We have infrastructure for sharing, connecting and thinking that never existed before. The future will be a little different than we knew a few months ago, but we’re up to the task.

Reevaluate.  Staying home is new, but let’s face it – we were killing ourselves. Those critical deadlines, it turns out, could all be moved. Perhaps we can focus on what really matters for a few weeks – our health, our wellbeing, and our families. The kids are home, and maybe this is nature’s way of telling us that we needed some time together. Get some extra sleep, take a walk, read a book. This is like a California snow day, without the snow (or a fire evacuation).

Reconnect.  The digital leashes that had us working 24/7 can now be repurposed for meaningful connection. Everyone is home. Call your colleagues and customers to talk about your ideas for the future, and listen to theirs. Talk to your family about life; share your goals. The best ideas can come from the least expected places – and will spur your most creative thinking.

Restructure.  We’ve been presented, rather suddenly, with a unique opportunity to reinvent our businesses. We don’t know exactly how this all shakes out – but that’s part of the opportunity. Each of us has a unique moment to reinvent the future, and our role in it. Now is the time to brainstorm – think about your resources, your team, and the talent and value that your business brings to its customers.

Reengage.  Over the next few weeks, the landscape will unfold – the true economic impact of the shutdown, the government programs, the needs of the community and your customers. Your team will be well rested and hungry for success.  Your leadership and vision will be ready for prime time.

We look forward to collaborating with you, our valued clients, as we turn to the future. We’ll reach out in the coming days and weeks with our thoughts on these topics and more. We look forward to hearing your questions, concerns and ideas, as we create the recovery. Together.

Paul Leeds is the Co-Chair of the Bankruptcy, Insolvency & Reorganization Practice Group.