Nathaniel Lai

Nathaniel is developing a broad litigation and arbitration practice and accepts instructions in all areas of Chambers’ work.  He has acted for clients in litigation and arbitration across a wide variety of subject matter and industries, including M&A, private equity and joint venture, civil fraud, sale of goods, life sciences and clinical research, technology and licensing, and corporate dissolution.  Nathaniel also has broad experience in white-collar criminal litigation and regulatory investigations, having represented companies and individuals in matters involving regulators in Asia and globally.

Prior to joining Chambers, Nathaniel practiced in the Hong Kong and Singapore offices of leading international law firms, with a focus on complex commercial litigation, international arbitration and white-collar criminal disputes with an Asian nexus (in particular China and Korea).  Nathaniel has extensive experience in these markets and continues to act for clients in international arbitrations and litigation relating to these jurisdictions.

Nathaniel is qualified in Singapore and New York, and is fluent in English and Mandarin Chinese.  He has been recognised as an “Arbitration Future Leader” in Lexology Index: Arbitration 2025 and in Lexology Index: Arbitration 2026 as well as Lexology Index: Southeast Asia 2026.  In addition to acting as counsel, Nathaniel also sits as an arbitrator and is admitted to the SIAC’s List of Rising Arbitrators and the HKIAC’s List of Arbitrators.

• Acting for a Malaysian state-owned development fund in civil fraud proceedings before the Singapore International Commercial Court against a Swiss private bank for its alleged role in facilitating fraud, embezzlement and money laundering against the fund.  Led by Jern-Fei Ng KC.

• Acting for a biopharmaceutical company in an HKIAC arbitration against a listed Chinese pharmaceutical manufacturing company pursuant to a technology transfer agreement, arising out of failures to comply with cGMP requirements resulting in the rejection of an Abbreviated New Drug Application by the U.S. FDA and loss of commercialisation revenue.  Hong Kong law governs.  Led by Jern-Fei Ng KC.

• Acting for a life sciences startup company in proceedings before the Singapore International Commercial Court against a global pharmaceutical giant in respect of a US$ 730 million worldwide Mareva injunction (and related proceedings) made ancillary to an ICC arbitration seated in New York.  Led by Toby Landau KC.

• Acting for a Singaporean majority state-owned listed company in the shipping and construction industry in a US$ 82 million SIAC arbitration against another Singaporean stated-owned listed company concerning a Deed of Indemnity.  Singapore law governs.  Led by Jern-Fei Ng KC.

• Acting for a private equity fund investor in an HKIAC arbitration seated in Hong Kong against a major Chinese vaccine developer incorporated in Antigua.  The dispute relates to the validity of the client’s US$800 million equity investment in the vaccine developer.  Also advising on international litigation strategy in respect of proceedings ongoing in Antigua and other jurisdictions.  Hong Kong and Antigua law governs.  Led by Jern-Fei Ng KC.

• Acting for an autonomous driving start-up company in an HKIAC arbitration seated in Hong Kong against a major venture capital fund in respect of a US$ 350 million dispute over the fund’s right to redeem its shares for failure to achieve a Qualified IPO, as well as counterclaims for breach of contract by the fund.  Hong Kong and Cayman Islands law govern.  Led by Jern-Fei Ng KC.

• Acting in an LCIA arbitration seated in London against a global investment bank in relation to a US$ 1.4 billion dispute over the construction and performance of the bank’s obligations under an agreement governed by English law.  Led by Vernon Flynn KC, Toby Landau KC and Jern-Fei Ng KC.

• Acting for the founder of a U.S. and Chinese biotechnology startup in an HKIAC arbitration in relation to breach of a shareholders’ agreement.  Allegations by the parties involve breach of contract, fiduciary breach, and fraud.  Hong Kong law governs.

• Acting in an SIAC arbitration and parallel Singapore High Court litigation for a distressed assets fund based in Hong Kong and Singapore in a US$ 63 million dispute over the exit of a joint venture investment.  The disputes are governed by Singapore law and involve allegations of breach of contract, conspiracy and fraud.  Singapore law governs.  Led by Jern-Fei Ng KC.

• Acted in an SGD 14 million dispute in the Singapore High Court (General and Appellate Divisions) against borrowers under a loan agreement tied to the acquiring of an equity investment by the borrowers.  Singapore law governs.

• Acting for a Malaysian shipping and construction conglomerate in a US$ 20 million litigation before the Singapore High Court concerning the delivery of a sail-away vessel in respect of work done claims made by the vendor and a counterclaim for failure to perform.

• Acted for an individual director defendant in a civil suit before the Singapore High Court in a claim for an account of profits for bribery.  Singapore law governs.

• Acted for a global biotech company in a US$ 340 million New York-seated ICC arbitration against its U.S. clinical research partner.  The dispute centred around alleged breaches of two license and collaboration agreements for joint clinical research and development of new immunotherapy treatments for cancer.  New York law governs.

• Acting for a U.S. commodities trading company as the claimant in an ICC arbitration over the sale of coal to a buyer in China.  The arbitration is seated in Singapore.  New York law governs.

• Acted for a U.S. commodities trading company as the respondent in a US$ 15 million SIAC arbitration in which the seller is seeking compensatory damages for non-delivery of coal.

• Acting for an investor in an HKIAC arbitration concerning a put-option exit dispute against a Chinese company.  The arbitration is seated in Hong Kong.  Hong Kong law governs.

• Acted for a Hong Kong-based US$ 700 million hedge fund in disputes against a major Korean institutional investor, including in a consolidated UNCITRAL arbitration administered by the HKIAC in Hong Kong.  In the arbitration, the institutional investor sought (among other things) findings that the hedge fund should be wound up on a just and equitable basis under Jersey law.  Jersey law governs.

• Acted in proceedings to set aside an arbitral award before the Singapore International Commercial Court on the basis that copying and pasting of material from a prior award constituted a breach of natural justice: DJO v DJP [2024] SGHC(I) 24.  Led by Chan Leng Sun SC with Tham Lijing.

• Acted for a Chinese real estate developer in parallel HKIAC and CIETAC arbitration proceedings worth approximately US$ 170 million against its foreign joint venture partner in relation to a real estate development project in China.  The governing law of the HKIAC arbitration was Hong Kong law, and the arbitration was conducted in English and Chinese.  The governing law of the CIETAC arbitration was Chinese law, and the language of the arbitration was Chinese.

• Acted for one of the largest real estate developers in China in a high-stakes HKIAC arbitration seated in Hong Kong concerning alleged breaches of an investment agreement, including successfully defending an emergency arbitration seeking Mareva injunctions freezing over US$ 4.5 billion in assets.  Hong Kong law governs.

• Acted for an Asian private equity fund in an HKD 400 million HKIAC arbitration governed by Hong Kong law against a major Chinese company in relation to alleged breaches of an agreement for the issuance of shares.

• Acted for a Chinese mining and real estate conglomerate in an HKIAC arbitration governed by Hong Kong law in relation to its US$ 110 million investment in a U.S. commodities business. 

• Acted for a Chinese pharmaceutical conglomerate in a US$ 50 million London-seated LCIA arbitration governed by English law in relation to a pharmaceutical distribution and licensing agreement.

• Acted for a Chinese conglomerate in a RMB 600 million HKIAC arbitration concerning disputes following the acquisition of shares in a Chinese real estate and hotel business.  The arbitration was governed by Hong Kong law and the language of the arbitration was Chinese.

• Acted for two Asian private equity funds in a US$ 53 million HKIAC arbitration concerning breaches of a shareholders’ agreement.  The arbitration was governed by Hong Kong law and involved complex issues relating to fraud and corruption (with potential criminal ramifications).

• Acted for a Korean conglomerate in an SIAC arbitration seated in Singapore over the proper construction of a commodities trading profit-sharing agreement.  Singapore law governs.  Led by Jern-Fei Ng KC.

• Acted for an Israeli company in a CIETAC Hong Kong arbitration in relation to an exclusive distribution agreement for the distribution of air conditioners in Israel.

• Acted for a California automobile startup in a US$ 2 billion Hong Kong-seated HKIAC arbitration (including emergency arbitration proceedings) governed by Hong Kong law against its Chinese majority equity investor in respect of the investor’s funding obligations. 

• Acted for a major European private bank in a US$ 200 million Taiwan-seated Chinese Arbitration Association arbitration against a Taiwanese insurance company in relation to certain transactions which turned out to be part of a fraudulent scheme.  Taiwan law governs.

• Acted for a Korean heavy industry conglomerate in a US$ 80 million Boston-seated ICDR arbitration governed by Massachusetts law in relation to the sale of wind turbines.

• Acting for a listed Chinese electronics manufacturer in a US$ 20 million Hong Kong-seated HKIAC arbitration over a patent license agreement.

• Represented the buyers of shares in a US$ 900 million London-seated ICC arbitration governed by English law against the sellers for alleged misrepresentation and breach of warranties in the SPA.

• Represented a U.S. listed company in a Hong Kong-seated HKIAC arbitration governed by Hong Kong law against a Chinese supplier in relation to the sale of defective parts.

• Advising a Malaysian deep-water oil production project company on proceedings to set aside an arbitration award relating to construction of the project.  The award is one of the largest awards ever rendered in Malaysia and worth over US$ 422 million.  Led by Jern-Fei Ng KC.

• Represented the U.S. Chapter 11 trustee of a global seafood conglomerate in a dispute with its creditor, a global bank.  Advising local counsel in a Hong Kong court action to unseal a judgment for use in U.S. proceedings.

• Acted for claimants in relation to a US$ 2 billion litigation arising from alleged facilitation of international fraud and money laundering by the defendants.  Led by Vernon Flynn KC and Jern-Fei Ng KC.

• Represented a financial markets trader in a U.S. DOJ and CFTC criminal investigation related to certain trading conduct allegedly in violation of the U.S. Dodd-Frank Act.

• Represented an investment-banking executive in a U.S. DOJ and SEC investigation related to the hiring of individuals connected to government officials in exchange for business, in violation of the U.S. Foreign Corrupt Practices Act.

• Represented a major U.S. heavy manufacturing company in an internal investigation into fraudulent sales practices in Korea. Worked with Korean counsel in overseeing the defence of the Korean subsidiary before South Korean prosecutors.

• Represented a Swiss international conglomerate in an internal investigation in Korea related to alleged bribery, bid-rigging and manipulation of books and records through the use of third-party vendors, in potential violation of the U.S. Foreign Corrupt Practices Act.

• Represented a major pharmaceutical company in an internal bribery investigation related to the use of third-party distributors to pay kickbacks to healthcare professionals in China.

• Represented a major pharmaceutical company in an internal investigation related to potentially fraudulent sales practices in India.

• 2023-Present: Independent Advocate, Duxton Hill Chambers
• 2019-2023: Counsel / Senior Associate, Sidley Austin LLP
• 2017-2019: Associate, Quinn Emanuel Urquhart & Sullivan LLP
• 2015-2017: Associate, Ropes & Gray LLP
• 2014-2015: Associate, Allen & Overy

• List of Arbitrators, Hong Kong International Arbitration Centre

• List of Rising Arbitrators, Singapore International Arbitration Centre

• J.D., Columbia Law School, 2014
• LL.B., London School of Economics, 2013, First Class Honours
• 2014: Parker School Certificate for Achievement in International and Comparative Law, Columbia Law School
• 2014: James Kent Scholar, Columbia Law School
• 2013: Harlan Fiske Stone Scholar, Columbia Law School
• 2012: Blackstone Chambers Prize (EU Law) for best performance in EU Law, London School of Economics
• 2012: Blackstone Chambers Prize (Human Rights) for best performance in Human Rights and Civil Liberties Law, London School of Economics
• 2011: Hughes Parry Prize for best performance in Law of Obligations (Tort and Contract), London School of Economics
• 2011: John Griffith Prize for highest aggregate examination score on First Year examinations, London School of Economics
• 2011: Charltons Prize for best overall performance, London School of Economics

“M&A Arbitrations involving Multiple Parties and Contracts”, The Guide to M&A Arbitration, Global Arbitration Review, December 2022 (with Yan Zhang).

Hong Kong Chapter, Harald Sippel and Kabir Duggal (eds), Force Majeure and Hardship in the Asia Pacific Region, Juris Publishing, January 2022 (with Yan Zhang and Dennis Wu).

“Disclosure in International Commercial Arbitration and State Secrecy Laws in China,” Neil Kaplan, Michael Pryles, Chiann Bao (eds), International Arbitration: When East Meets West: Liber Amicorum Michael Moser, Wolters Kluwer, July 2020 (with Friven Yeoh).

“Iura Novit Curia in Hong Kong Arbitration Law” in Franco Ferrari and Giuditta Cordero-Moss (eds), Iura Novit Curia in International Arbitration, Juris Publishing, April 2018 (with Jennifer Lim).