Jamie Lester Solicitor

Jamie Lester Solicitor | The Rights of Creditors When Companies Become Insolvent

The area of corporate insolvency is an important one, as it can impact on the livelihood of a company and its employees, as well as the rights of the different creditors to which a company owes payment. Jamie Lester is a solicitor well-versed in the field of insolvency, having joined the American Bankruptcy Institute (ABI) in September 2013. In addition to being a solicitor for more than 13 years, Jamie Lester has also benefitted from attending ABI’s International Insolvency & Restructuring Symposium in October 2013, which took place in Berlin. Jamie Lester has focused on handling high-value matters with a great deal of complexity for his clients throughout his career. In addition to insolvency, Jamie Lester has also practiced law in areas such as employment, insurance, professional negligence, risk management, and intellectual property.

The rights of a particular creditor tend to vary, and Jamie Lester acts for creditors to maximise the amount a creditor will receive, either under the debtor’s chosen rescheduling scheme or within the process of liquidation. Jamie Lester first verifies the status of a creditor, as some creditors may have a mortgage or fixed charge. When Jamie Lester represents a creditor bearing this type of account with a company, he advises them of their rights to recourse to the asset upon which the mortgage fixed charge is placed. It is important for Jamie Lester to assert this right, both to ensure that the client obtains priority over that asset, and to protect the client’s interest in it against the claims of other creditors.

Another area that often needs careful attention by a skilled solicitor such as Jamie Lester is when a company is being liquidated due to insolvency. In those cases, a liquidator or administrator may challenge a creditor’s right to certain property, transfers, or payments. Jamie Lester assists creditors with defending those rights, both on behalf of creditors who have received fair payments to which they are entitled, and creditors who may have had their rights infringed by an unequal and improper distribution to a particular creditor. Jamie Lester is familiar with the exceptions and issues surrounding these types of preferential transfers, and advises creditors on the best course of action for ensuring they receive the