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