The Brostrum Procedure is the standard procedure used to correct ankle instability.
It has been performed for over 50 years.
Brostrum's original paper was written in 1966.
Below are some links about the procedure.
Recovery is generally 3 to 6 months.
Brostrum Procedure / Wikipedia
Brostrum Procedure / Wheeless
http://www.ncbi.nlm.nih.gov/pmc/articles/PMC164377/pdf/attr_37_04_0458.pdf
http://www.ncbi.nlm.nih.gov/pmc/articles/PMC164377/