Chris Lai

Chris’s work focuses on international arbitration. He has worked on cases administered under the rules of HKIAC, ICC, ICSID, LCIA, LMAA and UNCITRAL involving hospitality, maritime, oil and gas, financial services and intellectual property disputes for corporate clients, high net worth individuals and sovereign states. He also has experience in annulment and other post-award proceedings conducted before the ICSID ad hoc committee and courts of various jurisdictions.

On the litigation side, Chris has worked on different banking and civil fraud disputes brought before the English courts and offshore courts.

Chris is qualified in England and Wales (solicitor advocate), New York and California. He is fluent in Cantonese (native) and Mandarin and speaks conversational French. He is a member of the Chartered Institute of Arbitrators and the University of Cambridge Alumni Arbitration Law Association.

Experience

Ukrainian Bank

Representing a Ukrainian bank in resisting the set-aside and stay of enforcement proceedings before the French court in connection with a USD 1.1 billion Paris-seated UNCITRAL award concerning Crimea-related expropriation claims under the Russia-Ukraine Bilateral Investment Treaty (BIT).

Croatia

Representing Croatia in defending a EUR 40 million ICSID arbitration claim brought by a French bank under the Croatia-France BIT arising from the State’s conversion of Swiss Franc denominated loans.

Chinese IT and Telecom Company

Representing a Chinese IT and telecom company in (i) setting aside and resisting the enforcement of a USD 100 million Amsterdam-seated NAI award in the Netherlands, Hong Kong, and the BVI; (ii) commencing parallel fresh court and arbitral proceedings in the US and the PRC.

UHNWI – Breach of fiduciary & contractual duties (Wang)

Acting for an UHNWI in relation to actions against an investment advisor and private bank for breach of fiduciary and contractual duties under various investment advisory and loan agreements. The client invested approximately £500m in various funds on the investment advisor’s advice and now wishes to unwind the investments because of the advisor’s conduct. The case includes allegations about the misapplication of client monies, inappropriate investment strategies and fund arrangements, breach of fiduciary duties, conflicts of interest and general breaches of the FCA Conduct of Business Rules and Principles.

Barak Fund SPC Limited

Representing a Maurtius-based structured trade finance fund in a London-seated LCIA arbitration, brought by an East Africa based Borrower and its parent companies and ultimate beneficial owners (the Claimants) against a group of Senior Lenders and a Mezzanine Lender in relation to a dispute arising from a syndicated loan governed by several English law financing agreements.

The Claimants claim losses of c. USD 670-850 million plus interest as a result of the inability to receive senior facilities totalling USD 92 million, as initially contemplated by the senior facilities agreement. The Claimants seemingly conceded that they had failed to satisfy the conditions precedent for the disbursement of senior loans. Drawing upon the terms of a Side Letter and the subsequent interaction between the parties, their claim is instead based on (i) the alleged failure of the Senior Lenders to transfer to the Mezzanine Lender the obligation to fund the senior facilities; and (ii) Mezzanine Lenders failure to fund the senior facilities on top of the mezzanine facilities that it had already provided the Borrower with.

On behalf of the Mezzanine Lender, LK has asserted a counterclaim against the Borrower for sums owing under the mezzanine facilities agreement, totalling over USD 158 million including interest.

Hong Kong Company

Representing a Hong Kong company in the application of a Norwich Pharmacal/ Bankers Trust Order against a major UK bank in connection with an authorised push payment fraud, and securing a full compensation against the bank before the Financial Ombudsman.