Contending traffic lights

Was approaching an intersection crossing the London Wall yesterday morning. As I was slowing down to stop, this geezer whips past me on a mountain bike, dismounts mid pedal, runs with his bike across the intersection (kicking himself in the ass), then re-mounts his bike again. Wtf? Does he think running through a red light with his bike grants him amnesty? Does it?

Does anyone know any cycling (law) loopholes?

bet he wasn't even wearing a helmet either!