This image has already been worked up quite a bit in Lightroom 5 (beta version). However, there's still far too much contrast for my liking.
This photo was problematic because it was primarily in -- as it appeared to my naked eye -- darkness, with a bright light coming from in front of James Mugridge (the young man being hooded). Brightening brought more of their gowns, etc., into the image, but also blew out the faces. This was helped by bringing down the highlights almost "too far."
Still, it wasn't enough. Check the next image to see how I manipulated it in Photoshop CS6.