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There would be (and any one please feel free to correct me) two grounds on which such an appeal might succeed: the first that the tribunal failed to properly consider the matter and the second that the tribunal reached a conclusion that no properly directed tribunal could reach.

Given the length of the judgment and the detailed reasoning I struggle to see the first ground taking off let alone flying and avoiding getting shot down.

As to the second, this is a very high threshold and that the appellant needs to go further than to show a differently constituted panel could reach a different finding and show that this one could not rationally have concluded as it did. While a separate ground for appeal this inevitably links into the first potential and given the detailed reasoning in the judgment this does not on the face of it appear to have any merits.

I would hope that LD argue on the basis of equality of arms that the SRA provides security as to costs or undertakes to meet LD's costs if the appeal succeeds.