Lucy Bone

Experienced in matters concerning senior executives including remuneration and bonus claims, and allegations of breach of directors’ duties including fiduciary duties. Frequently acts for high net worth individuals and in cases with regulatory implications. Sample experience includes:

• Defending a Senior Executive at US tech firm against a claim for clawback of substantial signing-on bonus. Linked civil proceedings and cross-border aspect.
• Advised director with share options valued at £3 million on Good Leaver status in negotiations for dismissal.
• Advised equity partner and star performer of an ESG hedge fund, with remuneration package of £25m+, on negotiations for agreed exit. Drafted Particulars of Claim which were deployed to obtain settlement on favourable terms.
• Defended hedge fund against dismissal and bonus claim by former employee. Novel point of law concerning the exercise of discretion not to pay bonus during the notice period.
• Provided an Expert Opinion on English law of termination of employment contracts in the event of executive misconduct for use in long-running multi-party US commercial litigation.
• Advised a hedge fund on strategy for exiting an underperforming executive and shareholder, and defending the firm against his allegations of age discrimination.
• Advised a travel agents in relation to misconduct and breach of fiduciary duties by Managing Director including expenses fraud and misappropriation of company monies.
• Advised the London branch of a Swiss hedge fund on the termination of a director of a hedge fund, where the director had shareholdings in the Swiss parent company.

Lucy has significant expertise in a range of post-termination matters, including restrictive covenants, fiduciary duties, preparatory steps to compete and confidential information/trade secrets. She has depth of experience across market sectors in the City, insurance brokers, account executive and the recruitment sector. Some recent examples:

• Resisted injunction to enforce minimum notice period against solicitor; Hine LLP v. Jones [2023] EWHC 1708.
• Acted for appellant in Planon v. Gilligan [2022] EWCA Civ 624 (Leading James Green). Appeal against refusal to enforce non-compete in which CA considered principles relating to restrictive covenant injunctions, hardship as a defence to enforcement of non-compete, delay and balance of convenience.
• Represented 10 Defendants to injunction to restrain employment at a competitor recruitment firm (unled against Daniel Tatton Brown KC).
• Represented eight defendants on a springboard injunction where a prior preservation of evidence order had been obtained without notice.
• Successfully acted for Defendants in Parker Steel v. Barrett Steel [2019]. Novel argument as to the effect of Reg 4 (7) on enforceability of covenants where employees have objected to transfer.
• Secured an urgent injunction for Insurance Brokers including springboard relief following a team move and conspiracy involving 12 employees and a former director.
• Acted for former employee of PR and Communications firm in defending an injunction to enforce restrictive covenants. The case raised issues as to the basis for and appropriate scope of springboard relief, and the interplay between the necessary pre-action steps and delay.
• Acted for the Claimant media company in the first known contested injunction controlling the Defendants’ use of Linked-In groups and connections; Whitmar v. Gamage Limited. Successfully obtained relief including forcing the Defendants to give up password access to the account.
• Experience of other types of injunction including injunction against publication and General Civil Restraint Orders against vexatious litigants.

Lucy undertakes general commercial work with an emphasis on business protection and unlawful competition, directors’ duties and fiduciary duties. Many of her cases are resolved before proceedings are issued and/or are commercially sensitive. Recent cases include:

• Represented corporate Defendant and 8 ex-employees in team move and conspiracy claim. Allegations of preparatory steps, breaches of directors’ duties, fiduciary duties, inducing breach of contract and unlawful means conspiracy. Acted in PHs and mediation, alone against Sam Neaman and Grahame Anderson.
• Acted (with Gavin Mansfield KC) for a housebuilding firm following a team move. Allegations included conspiracy, misuse of confidential information and unlawful preparatory steps to compete. Obtained injunctive relief, drafted pleadings, represented at various interim hearings including specific disclosure. Settled at mediation.
• Represented Defendants in a team move to a newly formed financial advisory company, resisting springboard relief and Wrotham Park damages.
• Instructed by one of the Defendant employees in the Capco litigation, facing a £130 million claim in the fintech sector including conspiracy and breach of intellectual property.
• Acted for Defendant employee in alleged team move, facing claim under Computer Misuse Act and for misappropriation of confidential information and breach of copyright.
• Represented a Proprietary Hedge Fund against several former traders and a competitor fund re infringement of copyright and misappropriation of trade secrets including trading data and algorithms.
• Instructed by a financial services provider working with retail outlets following a team move. Advised on potential claims, and availability of Wrotham Park damages.
• Advised a media and communications company following the discovery that one of its directors had used information stolen from a competitor in devising customer lists and marketing strategies.

Lucy is known for her comprehensive experience of all aspects of discrimination and harassment. Track record of high profile and high value matters. Recent experience of note includes:

• Acted for Claimant in Koktenturk v. Genesis Investment Management against Tom Kibling. Claimant was Associate Partner and alleged sex discriminatory performance appraisal and dismissal. Case settled on confidential terms after closing submissions.
• Acted for Global Bank facing allegations of discriminiation on the grounds of Religion and Belief. Legal issues as to nature of Philosophical Belief.
• Acted for the Claimant in Barrow v. KBR, the second highest disability discrimination award, at over £2.5 million including £7,500 aggravated damages. Represented at two week hearing conducted by CVP in September 2020 and 3 day remedies hearing in April 2021.
• Instructed in 10 day high value claim against cryptocurrency firm for sex discrimination and harassment.
• Acted for Nathalie Abildgaard in s.26(2) sexual harassment claim against hedge fund IFM. Widely reported in the national press. Settled on open terms after exchange of closing submissions, for £270,000.
• Represented a medical Professor accused of sexual harassment by several female colleagues. Successful at the internal hearing in preventing dismissal. Subsequent tribunal complaint of reverse sex discrimination settled before hearing.
• Successfully defended an International Investment Bank against allegations of sex harassment and victimisation arising from conduct on a trading desk including distribution of obscene material.

Lucy is frequently instructed in public interest disclosure cases and brings her forensic approach to the technical issues that arise. Several of her cases involve complex financial disclosures and have regulatory implications. She has experience of advising on and making Interim Relief applications, and significant trial experience:

• Acted for successful Claimant in whistleblowing case of Meenan v. Tesco Pension Investment [2022]. Tribunal upheld allegation that Claimant made disclosures of errors in the fund’s charging structure, leading to overcharging, made by the COO. Acted unled against Bruce Carr KC at liability hearing, against Gavin Mansfield KC at remedies hearing.
• Acted for Global Bank in two joined cases valued at £9.2 million, cross border jurisdictional issues in relation to individual respondents. Very serious allegation that Bank’s defective algorithm caused regular manipulation of market data. Led by Paul Goulding KC.
• Represented two former employees of FTSE in complex whistleblowing claims concerning alleged inaccuracies in financial indices and failures in regulatory compliance. The Claimants sought loss of earnings and payment of LTIPs worth +£750,000. Acted unled against David Reade KC. Case settled on confidential terms on the second day of trial.

Lucy has 20 years of experience across the spectrum of statutory matters including multi-party disputes and group litigation.

• Acted for a leading National Construction Firm in dispute as to status of bricklayers and foremen. Successful in resisting employee status. Impact for several hundred employees and implications across housebuilding sector.
• Advising a leading infrastructure company on TUPE transfer following a retender to multiple transferees, including issues of fragmentation.
• Barrett Steel v. Parker Steel: acted in rare case on the interplay of restrictive covenants and TUPE transfer. Successfully resisted injunction for several employees who had objected to the transfer.
• Advising an accountancy firm on the defence of equal pay complaints made by a senior manager in respect of a cross-border role.
• Equal pay claim of like work against an aviation firm.

Lucy is sought after as an independent investigator and has wide experience of diverse investigations at all business levels including C-suite. Known for her robust yet sensitive approach and praised for “impressive balance”. Key recent matters:

• Grievance Appeal officer for major public body, complaints brought by senior Black woman, including allegations against Senior Leadership Team and HR director. Grievance backed by Trade Union as flagship race discrimination complaint, with linked tribunal proceedings. Interviewed 8 witnesses and collated 1000 pp evidence. Produced 26 page Executive Report at pace to facilitate parties’ negotiations – report formed the basis for settlement at judicial mediation.
• Grievance investigation for a global Magic Circle Solicitors firm. Allegations of bad faith and defamation made by one equity partner against others including UK Managing Partner. Led the investigation, interviewed 12 witnesses including several Global Heads of Department in US and Middle East. Collated 6 lever arch files of evidence and condensed reasoning and findings into user-friendly 59 page report.
• Appeal Chair for international art gallery deciding interlinked appeals: 1. Against dismissal for sexual assault/harassment; 2. Against rejection of grievances brought by harassed employees.
• Highly sensitive grievance investigation concerning alleged male rape during a work trip.
• Disciplinary investigation into allegations of sex harassment and predatory conduct by the Managing Director and LLP Partner of international City-based PR firm. Proposed appropriate sanctions and made recommendations.
• Appointed by renowned performing arts association as Independent Appeal Officer to hear appeals of four members (all prominent artists in their sector) against their expulsion and findings that they had bullied the employed CEO.
• Investigation into misconduct by CEO of a national TV channel. As well as allegations of sexual harassment and assault, there were fraud allegations including accounting irregularities, misuse of company monies and misfeasance in a pre-takeover due diligence process.