Lloyd practices in all areas of commercial law. He has particular expertise in disputes arising from distribution agreements, manufacture, sale and supply of goods and services and 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.
Lloyd has built an impressive practice in banking & financial services. Lloyd regularly acts for the largest peer-to-peer lenders in the UK on advisory and litigation matters, whether in respect to the lender’s regulatory duties or recoveries work.
Lloyd also acts for claimants in respect of claims of mortgage mis-selling, negligent investment advice, negligent pensions transfers including in respect of overseas investments, and liabilities arising from transacting cryptocurrencies.
Lloyd has extensive knowledge of the provisions of the FCA Handbook, and has significant experience in advising on COBS, MCOB, PERG and CONC. Lloyd has assisted a number of FX and investment brokerages in response to FCA investigations into potential breaches of the financial promotion rules and unauthorised activities.
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 has also been asked to preview a first edition academic banking law textbook
Indicative banking & financial services work:
Longcross Securities Ltd v NatWest Markets Plc  High Court, (QB) ongoing
Acting for the claimant in claims of more than £1m arising from the purchase of an interest rate collar in 2007. The claim concerns whether the sale of the collar was negligently advised, and if so, whether the bank relied upon the cost of the product as evidence of the claimant’s diminished financial means to justify a transfer to its business recovery department. A split trial on liability is expected for 6 days in 2023.
RCD Mechanical & Electrical Ltd (In Liquidation) v Santander UK Plc  High Court (QB) ongoing
Acting for the claimant in a claim against Santander for wrongful conversion of a cheque. The claim concerns whether the defendant bank was negligent to cash a cheque into its customer’s personal account (an individual). The bank individually considered the cheque on more than one occasion, but failed to note or regard that the cheque was made out to the claimant, a corporate entity.
Finance and Credit Corporation Ltd (In Liquidation) v A, E  High Court (QB): Acted for the first defendant in claims for c£6m alleged to be due under personal guarantees given in the context of property investment loans. The first defendant’s defence relied upon estoppels by representation and convention. The claims have been successfully compromised.
Lloyd is adept at handling commercial litigation in the High Court. Lloyd has acted for a wide array of clients including banks, administrators of peer-to-peer lenders, 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 shareholder and partnership disputes.
Lloyds has recently addressed the following issues in his cases:
Does the creation of a new parent company breach of a shareholders’ agreement in respect of the former holding company?
Explosive Learning Solutions Ltd v Landmarc Support Services Ltd  Business & Property Court (QBD), ongoing
Acting for the claimant company in claims for c£3.5m unpaid fees under a services consultancy contract. The contract was to provide advice and expertise for the creation of a military qualifications framework for the United Arab Emirates armed forces.
Wind Farm Equipment Ltd v Typhoon International Ltd  Business & Property Courts, Liverpool District Registry (QBD)
Acting for the defendant to claims of alleged breach of contract concerning the manufacture and supply of suits for marine transportation. The case concerns whether a contract for supply of suits contained an implied term that the rapid abandonment suits should be suitable for constant wear. The matter is listed for a 7-day trial in November-December 2022.
Various North Point Pall Mall Purchasers v 174 Law Solicitors Ltd  EWHC 4 (Ch), currently on appeal to the Court of Appeal (Civil Division)
Together with David McIlroy, acting for various purchasers of units in a northern development in claims against the seller’s conveyancing solicitors for wrongful release of stakeholder deposits. The case concerns the novel question of the application of a stakeholder contract to a quad-partite relationship. The appeal shall also address the circumstances in which a solicitor’s client will be estopped by a convention entered into by their solicitor without the client’s express knowledge or instructions.
AMT Vehicle Rental Ltd v Volkswagen Group United Kingdom Limited  Business and Property Courts, Manchester (QBD)
Acting for the defendant car manufacturer in claims for c£1.5 for alleged wrongful termination of a contract to supply hire vehicles. The case concerns whether the defendant owed a single obligation or method of performance with no minimum obligation to request hire vehicles from the claimant, such that the fourth principle in Durham Tees Valley Airport Ltd v BMIBaby Ltd  EWCA Civ 485 applies. If the claimant is correct, it will require the court to undertake a relatively rare hypothetical factual investigation as to what Volkswagen would have done if it had performed the contract and so how much loss AMT has suffered, if any.
BNP Paribas v Explosive Learning Solutions Ltd, Corona Corporate Services Ltd, Mr H  County Court, ongoing
Acting for the defendant to claims for c£150k alleged to be due under a lease contract for office printers. The defendant denies having signed the agreement and a defence of non est factum based upon forgery is advanced.
Ultima Displays Ltd v Very Displays Ltd, Mr Burdett  Business & Property Courts 6
Lloyd successfully obtained an Imaging Order and Search and Seizure Order against the respondents, arising from the latter’s systematic interception of emails intended for the applicants and subsequent breaches of confidence.
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 together with David McIlroy on 3 group actions arising from failed developments in Liverpool and Manchester.
Recent issues Lloyd has addressed include:
Lloyd’s commercial practice frequently requires him to act in injunction hearings before the High Court. Lloyd’s recent injunctions work includes:
Lloyd has acted in 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.
Financial Services Lawyers Association
The Commercial Bar Association
Professional Negligence Bar Association
Lloyd has delivered a number of talks on topics such as
Lloyd was a visiting Teacher of Law at Cardiff University, teaching on the LLM in Commercial Law between 2013 and 2018. Lloyd taught courses on International Banking Law, Competition Law and Money Laundering.