Lloyd Maynard

Practice overview

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. Lloyd’s 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.

Clerk details

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Banking and Finance

Lloyd has built an impressive practice in banking & financial services, advising and litigating claims of mortgage mis-selling, negligent investment advice, ForEx manipulation, interest rate hedging products, and mis-selling of LIBOR loans amongst other areas. Lloyd has extensive knowledge of the provisions of the FCA Handbook, and has significant experience in advising on COBS, MCOBS, and CONC.

These are just some of the issues Lloyd has addressed in recent cases:

  • To what extent can victims of vishing or phishing frauds recover from their bank?
  • Can bridging finance for a property development amount to regulated lending under Financial Services and Markets Act 2000?
  • Is a contract for personal guarantee enforceable when confirmed by an email signature?
  • Is a bank manager’s oral promise of loan finance contractually binding?
  • When is advice to transfer out of a Defined Benefit pension negligent? Can the children of the recipient of negligent adviceclaim for loss of inheritance?
  • Where a pension fund made overpayments to the executors of an estate, and the estate has been fully distributed, are the executors liable to repay 100% of the overpayments?
  • When does the limitation period commence for claims arising from historical negligent financial advice?
  • In what circumstances can a respondent challenge the enforcement of a Financial Ombudsman Service award in the county courts?

Lloyd’s burgeoning knowledge of banking & financial services law developed alongside his teaching of international banking law at postgraduate level at Cardiff University between 2013 and 2018.

Commercial Litigation

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.

Lloyd has recently addressed the following issues in his cases:

  • Determining liability for breaches of duty under a Design Build Operate Lease Agreement for a water treatment plant.
  • The scope of a distributor’s duty of confidence under a distribution agreement.
  • The extent of a Local Council’s indemnity to an Academy Trust under a Commercial Transfer Agreement made in the context of the Academies Act 2010.
  • The scope of parties’ remuneration under a Shareholders Agreement.
  • The circumstances in which a company can lawfully sell a database of customer information without violating data protection laws.
  • Whether an evergreen clause in a company’s standard terms and conditions was validly incorporated into an oral publishing contract.
  • Whether a distribution company’s commercial agency contract provided for a valid contractual lien over the principal’s goods upon termination.
  • The limitation period for claims for breach of insurance policies.

Injunctions

Lloyd’s commercial practice frequently requires him to act in injunction hearings before the High Court. Lloyd has obtained injunctions having drafted affidavits and advised on the process for service of injunctions out of the jurisdiction.

Insolvency

Since joining Forum Chambers Lloyd has appeared in the Companies Court and County Court on a wide range of insolvency matters, including applications for injunction to restrain the presentation and advertisement of petitions, applications pursuant to sections 212 & 213 Insolvency Act 1986 and section 1157 Companies Act 2006, applications to set aside statutory demands, and petition hearings.

Professional Negligence

Lloyd is steadily building an advisory practice in professional negligence work. Lloyd has experience of advising in respect of claims against IFAs, solicitors and the Citizens Advice Bureau. Lloyd has advised numerous clients on the law on limitation and its application in a professional negligence context, as well as the merits and quantum of claims.

Lloyd is currently instructed as junior counsel to David McIlroy on 3 group actions arising from failed developments in Liverpool and Manchester.

Recent issues Lloyd has addressed include:

  • The extent of conveyancing solicitor’s duty to advise their client of the full terms, meaning and effect of agreements for sale.
  • Whether professional negligence proceedings in England were appropriate where the claimant received negligent pensions advice whilst situated in Hong Kong, from an IFA operating from England and Switzerland.
  • Whether a barrister was negligent for advising a litigant to settle employment tribunal proceedings.
  • The duties upon IFAs when advising upon Defined Benefit Pension Transfers.
  • Whether SIPP providers were liable for allowing an IFA to invest funds in an Unregulated Collective Investment Scheme.
  • The duties and liability of a conveyancing solicitor acting as stakeholder when releasing funds outside the terms of agreements for sale.
  • The limitation periods for claims to the Pensions Ombudsman.
  • The limitation period for negligence claims against solicitors for allowing a claim to be struck out for want of prosecution.
  • Whether the Financial Services Compensation Scheme should construe a trust deed subject to foreign law as though the foreign law applies or according to the English law position.
  • Whether a solicitor who advised a client (without formal retainer) of a limitation period had a duty to remind the person of the pending expiry of that limitation period 2 years later.
  • Whether a Citizens Advice Bureau was liable to its client for failure to issue an employment claim within the limitation period.
  • The limitation period for claims that include personal injury as a head of loss.

Qualifications

BA (Oxon) (Law)
LLM Commercial Law Cardiff University
BVC BPP London

Scholarships and awards

Walter Wigglesworth Scholarship Lincoln’s Inn
BPP Individual Moot Winner Judged by Lord Walker of Gestingthorpe, former Supreme Court Justice
Buchanan Prize Lincoln’s Inn
Lord Denning Scholarship Lincoln’s Inn
Hardwicke Scholarship Lincoln’s Inn
Farrar Award for Constitutional Law Pembroke College, Oxford University 

Professional bodies

Financial Services Lawyers Association
The Commercial Bar Association
Professional Negligence Bar Association

Professional development

Lloyd has delivered a number of talks on topics such as:

  • The Business & Property Court’s Disclosure Pilot;
  • What Lord Denning would do about financial market manipulation in the 21st century;
  • Understanding recent jurisprudence on contractual interpretation;
  • An update on Swaps mis-selling litigation;
  • Understanding the Foreign Exchange scandal;
  • Understanding the Repo-rate scandal;
  • Maximising the chances of a successful Financial Ombudsman Service complaint;
  • Maximising the chances of a successful Financial Services Compensation Scheme claim;
  • How to make the most of consequential loss claims.

Teaching

Lloyd was a visiting Teacher of Law at Cardiff University, teaching on the LLM in Commercial Law between 2013 and 2018. Lloydtaught courses on International Banking Law, Competition Law and Money Laundering.

Practice overview

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. Lloyd’s 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.

Clerk details

clerks@forumchambers.com
020 3735 8070

Banking and Finance

Lloyd has built an impressive practice in banking & financial services, advising and litigating claims of mortgage mis-selling, negligent investment advice, ForEx manipulation, interest rate hedging products, and mis-selling of LIBOR loans amongst other areas. Lloyd has extensive knowledge of the provisions of the FCA Handbook, and has significant experience in advising on COBS, MCOBS, and CONC.

These are just some of the issues Lloyd has addressed in recent cases:

  • To what extent can victims of vishing or phishing frauds recover from their bank?
  • Can bridging finance for a property development amount to regulated lending under Financial Services and Markets Act 2000?
  • Is a contract for personal guarantee enforceable when confirmed by an email signature?
  • Is a bank manager’s oral promise of loan finance contractually binding?
  • When is advice to transfer out of a Defined Benefit pension negligent? Can the children of the recipient of negligent adviceclaim for loss of inheritance?
  • Where a pension fund made overpayments to the executors of an estate, and the estate has been fully distributed, are the executors liable to repay 100% of the overpayments?
  • When does the limitation period commence for claims arising from historical negligent financial advice?
  • In what circumstances can a respondent challenge the enforcement of a Financial Ombudsman Service award in the county courts?

Lloyd’s burgeoning knowledge of banking & financial services law developed alongside his teaching of international banking law at postgraduate level at Cardiff University between 2013 and 2018.

Commercial Litigation

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.

Lloyd has recently addressed the following issues in his cases:

  • Determining liability for breaches of duty under a Design Build Operate Lease Agreement for a water treatment plant.
  • The scope of a distributor’s duty of confidence under a distribution agreement.
  • The extent of a Local Council’s indemnity to an Academy Trust under a Commercial Transfer Agreement made in the context of the Academies Act 2010.
  • The scope of parties’ remuneration under a Shareholders Agreement.
  • The circumstances in which a company can lawfully sell a database of customer information without violating data protection laws.
  • Whether an evergreen clause in a company’s standard terms and conditions was validly incorporated into an oral publishing contract.
  • Whether a distribution company’s commercial agency contract provided for a valid contractual lien over the principal’s goods upon termination.
  • The limitation period for claims for breach of insurance policies.

Injunctions

Lloyd’s commercial practice frequently requires him to act in injunction hearings before the High Court. Lloyd has obtained injunctions having drafted affidavits and advised on the process for service of injunctions out of the jurisdiction.

Insolvency

Since joining Forum Chambers Lloyd has appeared in the Companies Court and County Court on a wide range of insolvency matters, including applications for injunction to restrain the presentation and advertisement of petitions, applications pursuant to sections 212 & 213 Insolvency Act 1986 and section 1157 Companies Act 2006, applications to set aside statutory demands, and petition hearings.

Professional Negligence

Lloyd is steadily building an advisory practice in professional negligence work. Lloyd has experience of advising in respect of claims against IFAs, solicitors and the Citizens Advice Bureau. Lloyd has advised numerous clients on the law on limitation and its application in a professional negligence context, as well as the merits and quantum of claims.

Lloyd is currently instructed as junior counsel to David McIlroy on 3 group actions arising from failed developments in Liverpool and Manchester.

Recent issues Lloyd has addressed include:

  • The extent of conveyancing solicitor’s duty to advise their client of the full terms, meaning and effect of agreements for sale.
  • Whether professional negligence proceedings in England were appropriate where the claimant received negligent pensions advice whilst situated in Hong Kong, from an IFA operating from England and Switzerland.
  • Whether a barrister was negligent for advising a litigant to settle employment tribunal proceedings.
  • The duties upon IFAs when advising upon Defined Benefit Pension Transfers.
  • Whether SIPP providers were liable for allowing an IFA to invest funds in an Unregulated Collective Investment Scheme.
  • The duties and liability of a conveyancing solicitor acting as stakeholder when releasing funds outside the terms of agreements for sale.
  • The limitation periods for claims to the Pensions Ombudsman.
  • The limitation period for negligence claims against solicitors for allowing a claim to be struck out for want of prosecution.
  • Whether the Financial Services Compensation Scheme should construe a trust deed subject to foreign law as though the foreign law applies or according to the English law position.
  • Whether a solicitor who advised a client (without formal retainer) of a limitation period had a duty to remind the person of the pending expiry of that limitation period 2 years later.
  • Whether a Citizens Advice Bureau was liable to its client for failure to issue an employment claim within the limitation period.
  • The limitation period for claims that include personal injury as a head of loss.

Recommendations

“[Mr Maynard produced] elegant written submissions (which) were ably complimented by eloquent and succinct oral submissions.” – His Honour Judge McMullen QC.

“Lloyd Maynard is incredibly intelligent and also very approachable. When in Court Lloyd is persuasive and articulates arguments with confidence. I thoroughly enjoy working with him and have no reservation recommending him to others.” – Joe Edwards, Charles Russell Speechlys

“Lloyd delivered the best opening statement I have ever heard at a mediation!” – solicitor, Royds Withy King

“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.

“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

Qualifications

  • BA (Oxon) (Law)
  • LLM Commercial Law Cardiff University
  • BVC BPP London

Scholarships and awards

  • Walter Wigglesworth Scholarship Lincoln’s Inn
  • BPP Individual Moot Winner Judged by Lord Walker of Gestingthorpe, former Supreme Court Justice
  • Buchanan Prize Lincoln’s Inn
  • Lord Denning Scholarship Lincoln’s Inn
  • Hardwicke Scholarship Lincoln’s Inn
  • Farrar Award for Constitutional Law Pembroke College, Oxford University 

Professional bodies

Financial Services Lawyers Association
The Commercial Bar Association
Professional Negligence Bar Association

Professional development

Lloyd has delivered a number of talks on topics such as:

  • The Business & Property Court’s Disclosure Pilot;
  • What Lord Denning would do about financial market manipulation in the 21st century;
  • Understanding recent jurisprudence on contractual interpretation;
  • An update on Swaps mis-selling litigation;
  • Understanding the Foreign Exchange scandal;
  • Understanding the Repo-rate scandal;
  • Maximising the chances of a successful Financial Ombudsman Service complaint;
  • Maximising the chances of a successful Financial Services Compensation Scheme claim;
  • How to make the most of consequential loss claims.

Teaching

Lloyd was a visiting Teacher of Law at Cardiff University, teaching on the LLM in Commercial Law between 2013 and 2018. Lloydtaught courses on International Banking Law, Competition Law and Money Laundering.

  • Recent and ongoing cases
    • Sprint 1108 Ltd v RBS Bank plc, Business & Property Courts, Business List: instructed as sole counsel for the claimant in proceedings alleging that RBS sold an interest rate swap pursuant to a fraudulent misrepresentation.
    • Lloyds Bank plc v Noel Edmonds: instructed as junior counsel to David McIlroy in 2018 to advise on claims against Lloyds Bank arising from the conduct of its High Risk and Impaired Assets Division.
    • Zegveldt v Clydesdale Bank plc, National Australia Bank plc, Business & Property Courts in Bristol: acting for the claimant in claims that the defendant banks breached an oral contract to fund an extensive property development.
    • Proctor & Proctor v Clydesdale Bank plc, National Australia Bank plc, Henrico (Promontoria) Ltd, Business & Property Courts, Manchester Circuit Commercial Court: acting for the claimants in a case alleging the defendant banks breached a joint venture agreement to fund a property development over 10 years.
    • Templars Estates Ltd & Ors v National Westminster Bank plc & another [2016] EWHC 2020 (Comm): instructed to act for the claimants in claims arising from alleged interest rate swap mis-selling. Successful application resulted in a stay of proceedings, which were ultimately compromised before the Financial Ombudsman Service.
    • Mazarona Properties Ltd v Financial Ombudsman Service [2017] EWHC 1135 (Admin): instructed (together with David McIlroy) to act for the claimants in judicial review proceedings against the Financial Ombudsman Service.
    • Proctor, Proctor and the Proctor Partnership Ltd v Clydesdale Bank plc, National Australia Bank Ltd and Promontoria (Henrico) Ltd: instructed for the claimants to pursue claims for breach of contract, misrepresentation and fiduciary duty arising from Clydesdale/NAB’s failure to convert a development loan into a term loan and subsequent sale of the facility to Promontoria (Henrico) Ltd.
    • Conte v Natwest Bank plc: acted for the applicant in proceedings before the First-Tier Tribunal, Property Chamber, Land Registration division seeking rectification of an alleged fraudulent charge granted to Natwest in 2005.
    • Davies v Barclays Bank plc: instructed to act for the claimant in his claim against Barclays Bank plc for mis-selling of two interest rate hedging products. The claim settled at mediation shortly before trial.
    • Amicus Finance Ltd v Williams and Williams: instructed to act for the claimant in respect of enforcement against property for debts of more than £3m.
    • Popham v Coutts & Co: instructed (together with Paul O’Doherty) to act for the claimant in claims alleging Coutts breached a contract to provide investment advice in respect of investments made between 2008 and 2009 in Coutts’ ORBITA and CAPELP funds, and a claim that Coutts failed to advise on risk mitigation strategies concerning a foreign exchange facility. The case settled September 2016.
    • Hex Holdings Ltd (In Liquidation) v Royal Bank of Scotland plc: instructed (together with David McIlroy) for the claimant in relation to a multi-million-pound claim alleging mis-selling of an interest rate swap and misconduct by RBS’s Global Restructuring Group (“GRG”) causing failure of a business.
    • Advising Brighton & Hove Albion football club on the financial and regulatory implications under FSMA and the CONC provisions of the FCA Handbook in respect of its season ticket pricing.
    • Demand Media Ltd v Koch Media Ltd [2020] EWHC 32 (QB): 5-day trial acting as sole counsel for Koch Media Ltd. Successfully defended claims arising from termination of a distribution agreement, including breach of contract and breach of confidence.
    • ITM Ltd v HM Ltd and another: acting for the claimant in a claim for breach of a contract to provide exclusive tax mitigation advice.
    • Ladjevardi v Nikkhah: successful 3-day trial acting as sole counsel for Mr Ladjevardi in claims for unjust enrichment in respect of an agreement to purchase shares in Gresham House plc.
    • Sesame Ltd v Orr-McAuley: instructed by the claimant IFA network in respect of claims under a personal guarantee against the former director of an IFA member.
    • Bang & Olufsen UK Ltd v McMichael: instructed by the claimant to pursue a £400,000 debt against a former franchisee.
    • Rawdon Asset Finance Ltd: advising on the regulatory implications of lending to individuals and consumers. Drafting updated precedent loan, security and debenture documents.
    • Industrial Staffing Solutions Ltd v Take 4 Personnel Ltd: instructed for the defendant in proceedings concerning an alleged underpayment pursuant to a contract for the supply of agency workers.
    • JS Burgess Engineering v Sash Hardware Ltd: instructed by the claimant in a claim for damages arising from the defendant’s failure to pay for bespoke stillages.
    • Direk v Kargin: instructed at trial and on appeal by the successful claimant concerning a dispute arising from the failure to repay a corporate investment loan.
    • 1st Credit Finance v Durrant: instructed by the successful claimant to pursue a debt in county court proceedings.
    • Gazechim Plastics UK Ltd: drafted a ‘Cash-pool’ Agreement on behalf of a multi-national group of manufacturing companies.
    • B&Y Publishing Ltd and CW Publishing Ltd: 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 on breaches of Data Protection Act 1998.
    • Steel v Nationwide Building Society and another: instructed for the defendant in resisting a claim for breach of an insurance contract.
    • Cresswell Holdings Ltd v Powerhall Development Ltd, White Elm Ltd and Clydesdale Bank plc: acted for Clydesdale Bank Plc in part 8 proceedings concerning the enforceability of a charge over commercial premises sited on a former colliery.
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