Lloyd practices in all areas of commercial law, and has particular expertise in banking and financial services litigation.
Lloyd is a fearless advocate who presents cases strongly yet courteously. At this early stage of his practice, his advocacy has proven successful at first instance and appellate level, with members of the senior judiciary identifying Lloyd's oral and written advocacy as being elegant and persuasive.
Banking and financial services: Lloyd has built an impressive advisory practice in banking & financial services, advising on claims of mortgage mis-selling, negligent investment advice, interest rate hedging products, and LIBOR amongst other areas. Lloyd is familiar with the provisions of the FCA Handbook, and has significant experience in advising on COBS, MCOBS and CONC. Lloyd is presently assisting clients to explore potential claims arising from the Financial Conduct Authority's Final Notices in respect of manipulation of Foreign Exchange (ForEx) benchmarks.
Lloyd's burgeoning knowledge of banking & financial services law has developed whilst teaching international banking law at postgraduate level at Cardiff University since 2013. He is increasingly recognised for his knowledge of banking & financial services law and has been consulted for his view of the likely litigation fallout of the ForEx scandal by various business and financial press.
Indicative banking & financial services work
- Advising a football club on its financial and regulatory requirements under FSMA and the CONC provisions of the FCA Handbook.
- Advising a clothing importer on how to pursue claims arising from the Forex scandal.
- Assisting clients with complaints to the Financial Ombudsman Service about an insurance underwriter's decision to avoid a policy of professional indemnity insurance.
- Advising a former head of collateral management at a Centralised Clearing Platform of the application of the FCA Handbook's PRIN, COND, SYSC, APER, FIT, TC and CASS provisions to a proposed joint venture for provision of collateral management services.
- Instructed in High Court proceedings on behalf of a commercial property developer who has claims for breach of contract and the mis-selling of an interest rate hedging Collar against Allied Irish Bank.
- Advised a group of property investment companies of their prospects of success in litigation arising from the sale of a number of interest rate hedging products, and provided arguments for use during negotiations with the Bank concerning a related loan. This assisted the client in achieving a favourable renegotiation of a loan of more than £24m.
- With David McIlroy, advising on the prospects of success in litigation arising from mortgage mis-selling, including analysis of whether to claim in civil proceedings, the Financial Ombudsman Service or the Financial Services Compensation Scheme and the application of secondary limitation to claims of mis-sold mortgages.
Contract and commercial litigation:
- Drafting submissions, advising on consequential loss and generally assisting numerous companies, partnerships and individuals through the FCA Review process. This has resulted in the successful recovery of millions of pounds.
Lloyd is adept at handling commercial litigation in the High Court and County Court. Lloyd has acted for a wide array of clients including banks, insurance companies, small and medium sized businesses, supervisors of IVAs, consumers, investors, partnerships, and schools. Lloyd also has experience of acting in a range of complex partnership disputes.
Since joining Forum Chambers, Lloyd has developed a growing insolvency practice. He has appeared in the Companies Court and County Court on a wide range of matters including applications for injunction to restrain the presentation and advertisement of petitions, applications pursuant to sections 212 & 213 Insolvency Act 1986 and s1157 Companies Act 2006; applications to set aside statutory demands pursuant to rule 6.5 Insolvency Rules 1986 and petition hearings.
Indicative commercial and insolvency work
- Acting for an investor in an action for breach of contract. Successful at first instance and currently instructed to resist an appeal.
- Drafted a ‘Cash-pool’ Agreement on behalf of a multi-national group of manufacturing companies.
- Acting in a number of claims for breach of a publishing contract, involving misrepresentation, negligent mis-statement, the Unfair Contract Terms Act and Unfair Terms in Consumer Contract Regulations 1999.
- Advising a judgment creditor on the limitation of enforcement of judgments and the merits of pursuing action by way of Third Party Debt Order and part 8 proceedings.
- Acted for Nationwide Building Society in resisting a claim for breach of an insurance contract.
- Acted for Clydesdale Bank Plc in part 8 proceedings concerning the enforceability of a charge over commercial premises sited on a former colliery.
- Acting for the proprietor of a care home in proceedings the home's insurer and a building contractor for defective repair works undertaken at the care home.
- Acted for a Solicitors practice which was the petitioning creditor in insolvency proceedings.
Professional negligence: Lloyd is steadily building an advisory practice in professional negligence work. The mainstay of Lloyd's experience has been in the context of banking and financial services litigation, advising in respect of negligence claims against bank's salespersons and pursuing action by way of the FCA Redress Scheme for the sale of Interest Rate Hedging Products and Clydesdale & Yorkshire Banks' voluntary Redress Scheme for Tailored Business Loans.
In addition, Lloyd has experience of advising in respect of negligent advice provided by Independent Financial Advisors and negligent legal services provided by CAB caseworkers.
Lloyd has delivered a number of talks in recent months on topics such as:
- Understanding the Foreign Exchange scandal;
- Understanding the Repo-rate scandal;
- Understanding the Financial Ombudsman Services and maximising the chances of a successful complaint;
- Understanding the Financial Services Compensation Scheme and maximising the chances of a successful claim;
- How to make the most of consequential loss claims.
Teaching at Cardiff University: Lloyd has been a visiting Teacher of Law at Cardiff University, teaching on the LLM in Commercial Law since 2013. Lloyd has taught courses on International Banking Law, Competition Law and Money Laundering.
"[Mr Maynard produced] elegant written submissions (which) were ably complemented by eloquent and succinct oral submissions." – the late His Honour Judge McMullen QC.
“I just want to take the opportunity to thank you for your sensitive and thoughtful approach both during the conference call… this afternoon and in your advice generally throughout.” –
solicitor, The Co-operative Legal Services.
"Thanks Lloyd. Always a pleasure working with you!"
– Mandeep Kaur-Virdee, solicitor-advocate, Head of Insolvency & Restructuring, Neumans LLP
"Mr Maynard conducts himself in a very professional manner and is a calm and well prepared barrister. He has a very friendly and likeable personality and it was a pleasure to have him represent our company. Should the need arise we would happily have him represent us again."
- Moo Free Limited
“You were absolutely brilliant and I would like to thank you for everything you have done for the School”
– lay client.
“I could not have asked for a better service and wish you well in the future”
- lay client.