Peter Ross Lloyd-Cooper

Findings — machine-extracted (anthropic-batch:claude-opus-4-8); verify against the decision

Peter Ross Lloyd-Cooper, a partner at Kennedys, misappropriated and misapplied client funds over a nine-year period, causing a cash shortage of over US$2.1 million on the ABC matter plus a further multi-million pound shortage across some 24 client matters, using 'teeming and lading' to conceal shortfalls and diverting funds including for a company (TP Ltd) in which he had a personal interest. The Tribunal found both allegations proved and made an express finding of dishonesty under the Twinsectra test. He was struck off the Roll and ordered to pay costs of £25,191.46, not to be enforced without leave given his bankruptcy.

Duties found breached:

• No improper use of client money

Aggravating factors:

• Misappropriation of client funds over a nine-year period (2001-2010)
• Very substantial shortfall of client money (millions of dollars/pounds)
• Engaged in 'teeming and lading' to conceal shortfalls
• Payments made for benefit of a company (TP Ltd) in which he had a personal interest

Mitigating factors:

• Respondent aged 65 and unwell, suffering from depressive illness
• Took responsibility and stated intention to rectify shortfall
• Admitted the factual allegations
• No previous disciplinary matters