Owen Lloyd

Professional practice

Owen has a broad practice focused on substantial commercial litigation and arbitration. His practice spans the breadth of modern commercial matters – from mainstream disputes concerning contracts, torts and unjust enrichment across a variety of sectors through to more specialist areas such as banking law, high value employment matters and fraud claims governed by foreign law.

As of 2023, Owen is ranked as a Rising Star by the Legal 500 in Civil Fraud and Tier 3 in Banking and Finance (having been ranked as a Rising Star in both the prior year). He is often instructed by or against financial institutions. Previous instructions of particular note include PCP Capital Partners LLP v Barclays Bank Plc (deceit claims arising from recapitalisation of Barclays in which liability was established following an eight-week Commercial Court trial), the Abraaj litigation in the Cayman Islands (ongoing litigation concerning what is reported to be the largest collapse and insolvency in the history of private equity) and DGF v Zhevago (successfully resisting an application for a US$500 million worldwide freezing order on jurisdictional grounds).

He has particular expertise in litigation before the Commercial Court. In 2018, Owen spent six months as a judicial assistant to the Commercial Court, sitting with numerous on matters ranging from without notice applications for freezing injunctions to a six-week audit negligence trial. He has since been instructed on many Commercial Court matters, appearing both led and unled.

Prior to joining chambers, Owen studied law at undergraduate and post-graduate level at the University of Oxford. His academic awards included university prizes contract law, shipping law and private international law along with the Vinerian Scholarship for placing first in his cohort on the BCL. Owen has also then taught commercial and contract law at the University of Oxford and University College London.

Examples of Recent Cases

Jafar v Abraaj Holdings and others (led by Andrew Ayres KC, Henry Phillips, instructed by Ogier). Owen acts for a private equity fund in respect of deceit and unjust enrichment claims brought by Mr Hamid Jafar against a number of entities associated with Abraaj arising out of alleged loans made shortly before the collapse of Abraaj.
Abraaj Holdings (in liquidation) v Neomia Private Equity Fund IV LP (led by Andrew Ayres KC and Henry Phillips). Owen acted for a private equity fund defending clawback preference and transaction at an undervalue claims before the Grand Court of the Cayman Islands. The claims arise out of the demise of Abraaj, reported as largest collapse and insolvency in the history of private equity.
Owen acts as junior counsel in SCB v Vallis Commodities (led by Louise Hutton KC, instructed by David Flack of Evershed Sutherlands), a substantial claim by a bank against its former collateral manager arising from the physical loss of financed commodities under a trade financing structure.
PJSC Bank ‘Finance and Credit’ v Zhevago (led by Paul McGrath KC, Tom Ford and James Sheehan). Owen acted for several respondents to an application for a US$500 million worldwide freezing order, challenging jurisdiction and resisting the grant of a world-wide inter partes US $500m freezing injunction relating to transactions entered into by a bank prior to its insolvency. Those underlying claims concerned no less than six distinct alleged frauds said to have been perpetrated by the former owner of the Ukrainian bank.
PCP Capital Partners LLP v Barclays Bank Plc (led by Joe Smouha QC, James Collins QC and Robert Weekes, instructed by Quinn Emanuel Urquhart and Sullivan). Acted for the Claimant in respect of a deceit claim against Barclays arising from the actions of senior executives in the course of Barclays’ recapitalisations in 2008 (specifically the conclusion of two advisory services agreements with the Qatari entities with Qatari participation each capital raise. The trial was heard over six weeks with PCP establishing that the advisory services agreements were part of a dishonest fraud upon its syndicate.

What Others Say

Legal 500 UK Bar 2024, Fraud: Civil:

“Owen is incredibly detail-oriented, yet commercial and strategic in his thinking and advice. His written advocacy is also impressive and persuasive.”

Legal 500 UK Bar 2023, Banking & Finance:

“Owen is fantastic. He has an extraordinary work ethic, is super responsive and incredibly easy to deal with. He is razor sharp and all over the detail. He is working well beyond his year of call and is a real rising star.”

Legal 500 UK Bar 2023, Fraud: Civil:

“Owen has the work ethic of a trojan horse, coupled with an extreme determination to win for his client. He will work around the clock to achieve that. He is very bright and astute. Has a great future ahead of him.”

Arbitration & related court applications

Owen has considerable experience of arbitrations and arbitration-related court applications, both as junior counsel and sole counsel. Arbitration work constitutes a major part of Owen’s practice.

Owen has acted in numerous commercial arbitrations under the ICC, LCIA and SIAC rules (including expedited and cost controlled arbitrations) across many sectors including financial services, shipping, employment, telecommunications, healthcare and hospitality. Owen also has experience of claims under bilateral investment treaties.

Recent arbitration work include:

Acting for a global hotel brand in relation to a contractual dispute with the owner of an iconic hotel, with claims and counterclaims asserted in excess of £30 million (led by Huw Davies KC and instructed by Jones Day LLP).
Acting for a commodities trader in relation to a dispute with the seller of bulk goods (unled instructed by Prospect Law). The dispute concerned claims and counterclaims on the contract of carriage and the sale itself. In the course of a six-day hearing, Owen cross-examined numerous factual witnesses and an expert witness.
Acting for a state entity in a series of contractual disputes with a private provider of healthcare services arising from a long-term outsourcing agreement (led by James Collins KC, instructed by Cooley (UK) LLP).

Owen also holds particular expertise in arbitration-related applications before the Commercial Court, including application in support of arbitration proceedings, arbitration challenges and enforcement action. During his time as a judicial assistant to the Commercial Court, Owen gained considerable experience of arbitration applications (including in the context of bilateral investment treaty arbitrations). Since then, he has been instructed on a number of arbitration applications (both led and unled). Public examples include:

Successfully resisting a section 67 jurisdiction challenge to a GAFTA arbitration award (led by Jern-Fei Ng KC and instructed by Quinn Emanuel Urquhart & Sullivan Singapore and London)
Aqaba Container Terminal (PVT) Co v Soletanche Bachy France SAS [2019] EWHC 471 (Comm) (led by Stephen Houseman QC and instructed by Allen & Overy LLP) obtaining final anti-suit relief, damages and indemnity costs for ACT.
Ali Allawi v The Islamic Republic of Pakistan [2019] EWHC 430 (Comm) (led by Jern-Fei Ng QC and instructed by Withers LLP). Acted as junior counsel for the claimant applying for an extension of time to challenge an investment treaty arbitration award and to set aside permission to enforce the same.

Banking & financial services

Following his studies at Oxford, Owen has a particular interest in banking and financial services. He is developing broad banking practice and was recognised as a Rising Star in this area by the Legal 500 in 2022. Owen’s previous cases have concerned – amongst other things – contractual claims under guarantees, indemnities, swap contracts, complex derivatives, letters of credit, bonds and collateral management contracts as well as equitable and tortious claims concerning banks (including Quincecare). He has experience of acting both for, and against, banks and financial institutions.

Owen acts as junior counsel in SCB v Vallis Commodities (led by Louise Hutton KC, instructed by David Flack of Evershed Sutherlands), a substantial claim by a bank against its former collateral manager arising from the physical loss of financed commodities under a trade financing structure.

Owen has also acted on numerous cases concerning fraud within the banking and finance industries. These cases are typical complex fraud cases with significant interaction with mainstream banking and finance law (including foreign law and regulation). For example:

PCP Capital Partners LLP v Barclays Bank Plc (led by Joe Smouha KC, James Collins KC and Robert Weekes, instructed by Quinn Emanuel Urquhart and Sullivan). This eight-week trial was the first major hybrid trial before the Commercial Court. It concerned deceit claims arising from the recapitalisation of Barclays in the 2008 financial crisis (including whether very substantial side agreements with a sovereign wealth fund were shams and whether Barclays had provided unlawful financial assistance to that investor). The Court found that senior executives dishonestly made false representations to PCP. Owen also acted in relation to numerous pre-trial applications, including PCP’s successful application for specific disclosure on the basis of waiver of privilege, and the consequential hearing concerning costs.
Jafar v Abraaj Holdings and others (led by Andrew Ayres KC, Henry Phillips, instructed by Ogier). Owen acts for a private equity fund in respect of deceit and unjust enrichment claims brought by Mr Hamid Jafar against a number of entities associated with Abraaj arising out of alleged loans made shortly before the collapse of Abraaj (reported as largest collapse and insolvency in the history of private equity).
PJSC Bank ‘Finance and Credit’ v Zhevago (led by Paul McGrath KC, Tom Ford and James Sheehan). Owen acted for several respondents to an application for a US$500 million worldwide freezing order, challenging jurisdiction and resisting the grant of a world-wide inter partes US $500m freezing injunction relating to transactions entered into by a bank prior to its insolvency. Those underlying claims concerned no less than six distinct alleged frauds said to have been perpetrated by the former owner of the Ukrainian bank.

Civil fraud & asset recovery

Owen was recognised as Rising Star in this area by the Legal 500 in 2022. He has very substantial experience of heavyweight fraud litigation as part of a counsel team. He has also been instructed in a number of civil fraud matters as sole counsel. Examples of significant cases include:

PCP Capital Partners LLP v Barclays Bank Plc (led by Joe Smouha KC, James Collins KC and Robert Weekes, instructed by Quinn Emanuel Urquhart and Sullivan). This eight-week trial was the first major hybrid trial before the Commercial Court. It concerned deceit claims arising from the recapitalisation of Barclays in the 2008 financial crisis (including whether very substantial side agreements with a sovereign wealth fund were shams and whether Barclays had provided unlawful financial assistance to that investor). The Court found that senior executives dishonestly made false representations to PCP. Owen also acted in relation to numerous pre-trial applications, including PCP’s successful application for specific disclosure on the basis of waiver of privilege, and the consequential hearing concerning costs.
Jafar v Abraaj Holdings and others (led by Andrew Ayres KC, Henry Phillips, instructed by Ogier). Owen acts for a private equity fund in respect of deceit and unjust enrichment claims brought by Mr Hamid Jafar against a number of entities associated with Abraaj arising out of alleged loans made shortly before the collapse of Abraaj (reported as largest collapse and insolvency in the history of private equity).
PJSC Bank ‘Finance and Credit’ v Zhevago (led by Paul McGrath KC, Tom Ford and James Sheehan). Owen acted for several respondents to an application for a US$500 million worldwide freezing order, challenging jurisdiction and resisting the grant of a world-wide inter partes US $500m freezing injunction relating to transactions entered into by a bank prior to its insolvency. Those underlying claims concerned no less than six distinct alleged frauds said to have been perpetrated by the former owner of the Ukrainian bank.

Commercial dispute resolution

Commercial dispute resolution lies at the heart of Owen’s practice. Having spent time as a judicial assistant to the Commercial Court and having since been instructed on a number of substantial matters, he has gained considerable experience of commercial litigation across a wide range of industry sectors, for example banking, finance and private equity, commodities, healthcare, hospitality, sport and pharmaceuticals.

Select examples of Owen’s commercial dispute practice include:

Owen acted as junior counsel for the defendant in Comberg v Vivopower International Services Ltd [2020] EWHC 2438 (led by Charles Ciumei QC and instructed by Scott + Scott UK LLP), a complex dispute concerning alleged breaches of contractual and fiduciary duties by a CEO, along with further claims under alleged oral fee agreements. The case was tried over three weeks in the Queens’ Bench Division in March 2020.
Owen acted as junior counsel in PCP Capital Partners LLP & anor v Barclays Bank plc (led by Joe Smouha QC, James Collins QC and Robert Weekes, and instructed by Quinn Emanuel Urquhart & Sullivan). This was a deceit claim against one of the largest retail banks in the world, arising out of the bank’s capital raisings at the height of global financial crisis in 2008, heard over eight weeks in the Commercial Court from June 2020.
Jafar v Abraaj Holdings and others (led by Andrew Ayres KC and Henry Phillips, instructed by Ogier). Owen acts for a private equity fund in respect of deceit and unjust enrichment claims brought by Mr Hamid Jafar against a number of entities associated with Abraaj arising out of alleged loans made shortly before the collapse of Abraaj.
Abraaj Holdings (in liquidation) v Neomia Private Equity Fund IV LP (led by Andrew Ayres KC and Henry Phillips). Owen acted for a private equity fund defending clawback preference and transaction at an undervalue claims before the Grand Court of the Cayman Islands. The claims arise out of the demise of Abraaj, reported as largest collapse and insolvency in the history of private equity.
PJSC Bank ‘Finance and Credit’ v Zhevago (led by Paul McGrath KC, Tom Ford and James Sheehan). Owen acted for several respondents to an application for a US$500 million worldwide freezing order, challenging jurisdiction and resisting the grant of a world-wide inter partes US $500m freezing injunction relating to transactions entered into by a bank prior to its insolvency. Those underlying claims concerned no less than six distinct alleged frauds said to have been perpetrated by the former owner of the Ukrainian bank.

Owen also has experience of arbitration proceedings – ranging from acting as sole counsel in shipping arbitrations to assisting as junior counsel in a multi-billion-dollar arbitration pursuant to a bilateral investment treaty. For details see “Arbitration” above.

Company & insolvency law / corporate recovery

Owen has acted in a number of substantial company and insolvency matters, both led and unled. Recent examples include:

Abraaj Holdings (in liquidation) v Neomia Private Equity Fund IV LP (led by Andrew Ayres KC and Henry Phillips). Owen acted for a private equity fund defending clawback preference and transaction at an undervalue claims before the Grand Court of the Cayman Islands. The claims arise out of the demise of Abraaj, reported as largest collapse and insolvency in the history of private equity.

PJSC Bank ‘Finance and Credit’ v Zhevago (led by Paul McGrath KC, Tom Ford and James Sheehan). Owen acted for several respondents to an application for a US$500 million worldwide freezing order, challenging jurisdiction and resisting the grant of a world-wide inter partes US $500m freezing injunction relating to transactions entered into by a bank prior to its insolvency. Those underlying claims concerned no less than six distinct alleged frauds said to have been perpetrated by the former owner of the Ukrainian bank.

Conflict of laws & private international law

Owen has a particular interest in private international law, having been awarded the Dicey & Morris prize for the conflict of laws by the University of Oxford following his BCL examinations. Many of Owen’s cases involve advising on issues of jurisdiction and/or applicable law. He has also provided expert evidence on these matters for proceedings in the United States.

Owen has experience of advising on anti-suit relief and successfully obtained final anti-suit relief, damages and indemnity costs in Aqaba Container Terminal (PVT) Co v Soletanche Bachy France SAS [2019] EWHC 471 (Comm) (led by Stephen Houseman QC and instructed by Allen & Overy LLP). More recently, Owen acted as sole counsel defending an application for anti-suit injunction (proceedings having been commenced in breach of an arbitration clause).

Owen has also advised on and acted as sole counsel in relation to enforcement of foreign judgments in the High Court.

Owen is willing to provide talks on private international law, particularly as regards anti-suit injunctions and the matters of jurisdiction and enforcement post-Brexit.

Employment

Owen has developed an employment practice concerning high-value claims before both the Employment Tribunal and the High Court. He has appeared before the Employment Tribunal both led and unled, and has substantial experience of all phases of employment litigation – from urgent injunctions in respect of team moves and/or protection of confidential information through to trial. Significant cases in the past few years include:

Comberg v VivoPower [2020] EWHC 2438 (led by Charles Ciumei KC, instructed by Scott + Scott UK LLP). Acted for VivoPower, a NASDAQ listed solar company, in respect of claims brought by their former CEO for wrongful dismissal and claims under three additional alleged oral fee agreements in excess of £3 million, alternatively unjust enrichment. The trial was heard across three weeks and concerned of the relevant principles that govern interpretation of employment contracts, the approach to evidence in oral contract cases, the effects of Part 36 on compromised claims, entire agreement clauses in employment contracts and quantification of loss, including lost bonuses and incentive awards. Owen also acted in respect of contested applications: (a) to strike out based on alleged infringement of the without prejudice rule of admissibility; (b) permission to amend; (c) specific disclosure on the basis of an alleged waiver of privilege by mistake and (d) on costs following trial.
Acting for a national accounting firm seeking urgent springboard injunctive relief in respect of an unlawful team move/potential breach of confidence (led by David Craig KC, instructed by Lewis Silkin LLP).
Acting for a City law firm in respect of a whistleblowing claim asserted by a former partner with damages claimed in excess of £5.5 million (led by David Craig KC).
Schneider v Lycatel. Owen was instructed by Lycatel in respect of a claim by a former employee asserting an entitlement to a bonus of £8 million (led by David Craig KC, instructed by Lewis Silkin LLP). Within the proceedings, Owen appeared unled at a preliminary hearing before the ET (successfully defending an application to amend by the Claimant) and led before the EAT (obtaining a stay of the proceedings before the Employment Tribunal in favour of subsequent mirror-image proceedings before the High Court for negative declaratory relief issued by the former employer). The judgment of the EAT is the leading modern authority on the principles concerning the stay of ET proceedings in favour of claims before the High Court.

Insurance & reinsurance

Owen has been instructed to advise and act as sole counsel in numerous insurance disputes, including before the Circuit Commercial Court and Commercial Court. He also gained experience of a range of insurance disputes during his time at the Commercial Court. Owen also assisted Claire Blanchard KC with updating Arnould’s Law of Marine Insurance and Average.

Offshore litigation

Owen has significant experience of offshore litigation, principally through his ongoing involvement in the Abraaj litigation in the Cayman Islands, namely:

Jafar v Abraaj Holdings and others (led by Andrew Ayres KC and Henry Phillips, instructed by Ogier). Owen acts for a private equity fund in respect of deceit and unjust enrichment claims brought by Mr Hamid Jafar against a number of entities associated with Abraaj arising out of alleged loans made shortly before the collapse of Abraaj.
Abraaj Holdings (in liquidation) v Neomia Private Equity Fund IV LP (led by Andrew Ayres KC and Henry Phillips). Owen acted for a private equity fund defending clawback preference and transaction at an undervalue claims before the Grand Court of the Cayman Islands. The claims arise out of the demise of Abraaj, reported as largest collapse and insolvency in the history of private equity.

Within the Abraaj litigation, Owen has been instructed on numerous interlocutory matters including: (a) application for permission to amend; (b) applications concerning the use of TAR in discovery exercises; (c) specific discovery applications (including in respect of documents improperly withheld for privilege and consequential directions to remedy deficient privilege reviews); (d) applications for further and better particulars; and (e) applications for immediate costs orders and interim payments.

Professional negligence

Owen has experience of professional negligence claims, including against auditors, banks, lawyers and financial and investment advisers. As a Judicial Assistant to the Commercial Court, Owen assisted Mr Justice Teare in relation to Manchester Building Society v Grant Thornton UK, a lengthy audit negligence trial.

Current instructions include BTI v PricewaterhouseCoopers, an ongoing multi-million-euro auditors’ negligence claim in connection with the audit of a company exposed to substantial indemnity claims in connection with environmental liabilities in the US, listed for an 8-week trial in 2024.

Shipping & admiralty

Owen has been instructed to advise and act as sole counsel in a number shipping disputes – typically concerning charterparties or bills of lading. He studied international trade at the University of Oxford and was awarded the Quadrant Chambers prize for International Trade. Owen has previously Essex Court Chambers on the Young Maritime Professionals Committee.

Unjust enrichment & restitution claims

Many of Owen’s cases involve claims for restitution, either as a response to unjust enrichment or a civil wrong. As a result, and drawing up his academic studies and interests, Owen is well-placed to advice on such matters. Select examples of recent cases concerning unjust enrichment/restitution claims include:

Comberg v VivoPower [2020] EWHC 2438 (led by Charles Ciumei KC, instructed by Scott + Scott UK LLP). Acted for VivoPower, a NASDAQ listed solar company, in respect of claims brought by their former CEO for wrongful dismissal and claims under three additional alleged oral fee agreements in excess of £3 million, alternatively unjust enrichment.
Jafar v Abraaj Holdings and others (led by Andrew Ayres KC, Henry Phillips, instructed by Ogier). Owen acts for a private equity fund in respect of deceit and unjust enrichment claims (under UAE law and/or Cayman law) brought by Mr Hamid Jafar against a number of entities associated with Abraaj arising out of alleged loans made shortly before the collapse of Abraaj (reported as largest collapse and insolvency in the history of private equity).
An ICC arbitration. Acting for a state entity in a series of contractual disputes with a private provider of healthcare services arising from a long-term outsourcing agreement with alternative claims in unjust enrichment (led by James Collins KC, instructed by Cooley (UK) LLP).

Career

2018 Judicial Assistant to the Commercial Court (January to July)

2017 Tenant at Essex Court Chambers

2016-2017 Pupillage at Essex Court Chambers (with Edward Brown)

2016 Called to the Bar (Gray’s Inn)

2015-2016 Tutored Commercial and Contract Law at the University of Oxford. Tutorial Fellow at University College London. Research Assistant to Professor Mindy Chen-Wishart and Professor Louise Gullifer.

2014-2015 Graduate Mentor, Merton College Oxford

Education

2015-2016 – BPTC, City Law School (Outstanding)

2014-2015 – BCL, Merton College, Oxford (Distinction, ranked first in year) (Restitution of Unjust Enrichment, Commercial Remedies, Conflict of Laws and Legal Concepts in Financial Law)

2010-2014 – BA Jurisprudence (Law with Law Studies in Europe) (First Class; Distinction in Law Moderations)

2002-2010 – Tonypandy Community College

Awards

2015 Bingham Scholarship, Gray’s Inn

Vinerian Scholarship, University of Oxford (1st in year in BCL examinations)

John Morris Prize in Conflict of Laws, University of Oxford

Won the University of Oxford 7 King’s Bench Walk Commercial Law Moot

2014 Merton Lawyers’ BCL Scholarship, Merton College and University of Oxford

Slaughter and May Prize for Contract Law, University of Oxford

Quadrant Chambers’ Prize for International Trade, University of Oxford

2013 Honourable Mention for Best Oral Advocate in the Willem C Vis International Commercial Arbitration Moot

Honourable Mention for Best Claimant’s Mem in the Willem C Vis International Commercial Arbitration Moot