Team

Team

Managing Director

Baldev Bhinder

baldevbhinder@blackstonegold.com

Baldev is dual qualified in Singapore and England with more than 20 years of international experience across the world’s leading global law firms. He was previously at UK Energy specialist law firm, Ashurst LLP and US arbitration heavyweight, White & Case, before he set-up Blackstone & Gold in 2019 as Singapore’s first energy and commodities law firm.

Baldev is an expert on legal issues in O&G and commodities sectors and advises on all aspects of the supply chain from trading and trade finance arrangements to international recoveries and arbitration. His disputes practice often operates in crisis management situations covering international arbitration, Singapore court litigation, insolvency and restructuring. He is often called to lead or be part of global teams in international litigation cases involving global enforcement or asset recovery.

He is a leading name in trade fraud cases and his views have been featured in the Singapore Business Times, Bloomberg, CNBC, CNA and the Financial Times. Baldev is recognised as a trailblazer in the legal sector; he is recognised as a Litigation Star by Benchmark Litigation and one of Asia’s Top 50 Disputes Lawyers by ALB. He is ranked by Legal 500, Chambers & Partners and Who’s Who Legal for his work. In 2026, Baldev had the honour of winning ‘Singapore Lawyer of the Year’ at Benchmark Litigation’s Asia Pacific Awards. Baldev is a Fellow of the Chartered Institute of Arbitrators, UK. He speaks English, Punjabi, Bahasa, Hindi & Spanish.

What Clients Say

“Baldev is an exceptional litigator with very deep arbitration experience. He has seen it all and instils great confidence in clients… He is a great communicator and leader who is a genuine pleasure to work with.”

Legal 500 Asia Pacific 2026

“Working with Baldev has been genuinely refreshing. He combines razor-sharp legal insight with a warm, approachable style that makes even the most complex matters feel manageable.”

Chambers & Partners 2026

“Baldev Bhinder is well known in the market for his commodities work and network. His understanding of international trade is second to none and he brings that expertise to any claim or arbitration.”

Benchmark Litigation 2026

“Baldev Bhinder is an impressive leader with very deep sectoral knowledge and a great reputation. He is charming, erudite and level-headed; he focuses on what matters, providing sensible and well pitched advice.”

Legal 500 Asia Pacific 2025

“Baldev is the go-to on anything related to trade finance commodities. He knows it inside out, knows who is who, and can speak to traders and do research which is unparalleled in the market.”

Chambers & Partners 2025

“Baldev Bhinder is exceptional, understands the practicalities of international trade, is well connected in the commodities market, instinctively knows where the pressure points are, and can map out an effective strategy from the get-go.”

Legal 500 Asia Pacific 2024

“Baldev Bhinder is the first person I contact if I have a question about the commodity market. He has immense knowledge regarding that topic and he is unquestionably an expert in that field. Whilst I appreciate his technical ability, the thing I admire the most is his integrity and his willingness to help.”

Legal 500 Asia Pacific 2022
Illustrative Matters
Arbitration
LCIA | Steel

Successfully obtained an LCIA award in respect of an indemnification by a steel trader against an Egyptian party, including a subsequent setting aside proceedings in the London courts.

SIAC | Cement and clinker

Successfully obtained two SIAC Awards for a dispute under a clinker contract, as well as acting in concurrent enforcement proceedings in Dubai and challenge to setting aside proceedings in the Singapore courts.

Mining | Spoofing and diversion

Successfully defended a trader in respect of claims brought by an Indonesian miner for payments that were the subject of spoofing and diversion. Simultaneously assisted the trader in asset recovery of diverted payments involving China and Hong Kong jurisdictions.

AAA | Trade Credit Insurance

Co-counsel for the successful defence of claims about $100m brought against a insurance company by the liquidator of a trading company in respect of trade credit insurance claims.

LCIA | Oil

Acted for lenders in an LCIA London arbitration against guarantors in connection with an oil project in Africa, obtaining an award of $60 million. The dispute involved factually complex allegations of fraud.

SIAC | Petrochemicals

Co-counsel with a Chinese law firm in defending three SIAC demurrage claims totalling approximately $18 million against a Chinese petrochemical company.

DIAC | Steel

Successfully acted for a steel company against an Egyptian buyer in DIAC proceedings arising from non-payment linked to the devaluation of the Egyptian pound, including advising on mitigation steps in seizing the cargo and the subsequent enforcement strategy in Dubai and Egypt.

GAFTA | Agricultural commodities

Acted for a Singapore agri-trader in six London GAFTA arbitrations against a single counterparty that wrongfully refused delivery, including advice on the practical issues of importing, storing and reselling the cargo and the consequences for the measure of damages.

London arbitration | Sugar and shipping

Acted for a sugar trader in successfully obtaining two London arbitration awards and subsequent enforcement in USA, alongside misdelivery claims against the carrier in the Singapore courts and HK courts

LMAA | Shipping and oil

Acted for a Japanese oil trader in LMAA proceedings arising from the breakdown of a vessel's engine, involving complex causation issues on consequential damages and attendant general average claims.

SIAC | Metals

Acted for a trader in an SIAC arbitration pursuing a $14 million claim against a Chinese conglomerate arising from a series of copper trades.

Commercial Litigation — Singapore and Foreign Courts
SICC | Trade credit insurance

Acted for QBE Insurance (Singapore) Pte Ltd in the Singapore International Commercial Court in a significant decision on the adjudication of claims under a trade credit insurance policy. The defence established, among other things, that the claims pursued related to fictitious trades (Marketlend Pty Ltd and another v QBE Insurance (Singapore) Pte Ltd [2025] SGHC(I) 1). The case won Impact Case of the Year at Benchmark Litigation’s Asia Pacific Awards

Singapore High Court | Trade credit insurance

Acted for a global credit insurer in two further Singapore High Court actions concerning trade credit insurance claims, obtaining judgment in default of appearance in one and negotiating a settlement in the other.

Singapore High Court | Mining finance

Acted for a Singapore trading company in claims arising from a loan for an African mining project, including advice on jurisdictional challenges, and coordinating related proceedings in Zambia.

Singapore High Court | Shipping

Acted for a Singapore trader in a claim against vessel owners for misdelivery of a sugar cargo.

Singapore High Court | Trade finance

Acted for a Singapore trader to enforce a $4 million claim for payment under a letter of credit against a Bangladeshi bank. The matter concluded amicably.

Singapore & England and Wales | Shipping finance

Acted as instructing solicitors in London proceedings for a lender, including obtaining a worldwide freezing order against six defendants in respect of sums in excess of $150 million diverted from a facility financing the purchase of vessels. Also acted as Singapore counsel in the related restructuring and bankruptcy proceedings.

England and Wales | Arbitration challenge

Acted as instructing solicitors in London court proceedings to set aside an LCIA award.

Singapore High Court | Cryptocurrency

Acted for a remittance company and other defendants in defending a $24 million claim by a software development company under a Master XRP Commitment to Sell Agreement. The defence recharacterised the cryptocurrency / On-Demand Liquidity arrangement as a revolving credit loan governed by an overarching cooperation agreement.

DIFC Courts | Commodities

Acted as instructing solicitors in DIFC proceedings to enforce a contested DIAC award.

Investigations and Asset Recovery
Global | Commodities

Advising a number of credit insurers on alleged commodity trades in excess of $500 million across Asia, South America and Europe, and conducting investigations into whether those trades were genuine physical trades.

Singapore | Insolvency investigation

Advising a Singapore creditor on the investigation of transactions of a company in liquidation, including potential clawback claims, together with advice on recovery avenues including funding arrangements.

Hong Kong & China | Spoofing and tracing

Investigating a spoofing breach and tracing funds into Hong Kong and China, including advice on remedies to compel disclosure of information.

Singapore | Corporate Investigation

Advising a Singapore company on the investigation of employee embezzlement, including criminal and civil routes to asset recovery.

UAE, HK, India | Asset Recovery

Acted for a trade finance fund pursuing recoveries in excess of $100 million against third parties in India, the UAE and Hong Kong in connection with the collapse of the Phoenix group.

Global | Asset Recovery

Acted for a lender in a global asset recovery exercise for claims in excess of $150 million, including freezing orders and the mapping of assets across multiple jurisdictions and through associated third parties.

Global | Trade credit insurance

Investigated claims of approximately $30 million arising from commodity trades on the instructions of a London law firm, in connection with claims made under a trade credit insurance policy.

USA | Trade Credit

Investigated trade credit insurance claims for an American insurer in respect of trades that are the subject of US litigation.

Global | Export credit insurance

Advised an export credit agency on commodity trade claims under a trade credit insurance policy, including indications of circular and related party trading.

Singapore | Bunker trade insurance

Advised a European insurer on bunker trade claims, including parallel Singapore restructuring proceedings and the effect of the buyer's eventual insolvency in Singapore.

Australia | Trade credit insurance

Advised an insurer in Australian court proceedings concerning claims arising from potentially connected parties creating trades in order to raise financing.

Restructuring and Insolvency
Singapore High Court | Insolvency funding

Acted for a creditor in a Singapore decision on insolvency funding, Majestica Enterprises Ltd v Kams Singapore Pte Ltd [2023] SGHC 250, which set out guidance on the requirements for creditor priority funding to pursue recovery claims against third parties.

Singapore | Bankruptcy

Acting for the private trustees in bankruptcy of three bankrupts in an application for their joinder to litigation raising questions of beneficial ownership of property, and advising the trustees on sanctioning the bankrupts' defence of the claim.

Singapore | Oil trading insolvency

Advised a creditor on its claims and counterclaims against Hin Leong following its insolvency, arising from a complex chain of trades.

Singapore | Court-supervised restructuring

Acted for the largest secured lender in the court-supervised restructuring of InterChem Pte Ltd, with debts exceeding $300 million.

Singapore | Restructuring and bankruptcy

Acted for the lender in the restructuring and insolvency of Somap International Pte Ltd in relation to debt of approximately $150 million, and in heavily contested bankruptcy proceedings against its director.

Singapore | Banks

Advised a consortium of banks on a substantial loan default, connected Singapore restructuring and insolvency proceedings, and eventual asset recovery options.

Singapore | Steel

Acted for a steel company on claims against a Singapore debtor, including the validity and effect of an attempted court-supervised restructuring.

Singapore High Court | Winding up

Advised a commodities trading company on winding-up proceedings against a counterparty for non-payment under a loan agreement, including negotiating repayment arrangements, structuring consent orders and pursuing recovery strategy in the face of default.

Singapore | Retail insolvency

Acting for an insurer in Singapore insolvency proceedings against a prominent sports apparel and equipment retailer, including structuring and advancing retention of title claims, negotiating with the liquidator on recovery and apportionment, and maximising creditor recoveries in the winding up.

Singapore High Court | Construction and industrials

Acted for an industrial client in debt recovery and insolvency-related proceedings involving project counterparties, including resisting applications to set aside statutory demands, advising on winding-up strategy, and addressing arbitration and stay applications and subsequent liquidation steps.

Publications
Trade Treasury & Payments · June 2025

“Something is rotten with the state of invoice financing”

Berne Union Bulletin · April 2025

“Fictitious trades and trade credit insurance claims”

January 2025

“Actual physical sale and shipment of goods: the touchstone of trade credit insurance claims”

August 2024

“The Law should call a Fraud, a Fraud: Singapore settles the fraud test in Letters of Credit”

The Business Times · March 2024

“International Trade: The Anti-Money Laundering Achilles’ Heel”

Manifold Times · June 2023

“Misdelivery: Are BLs good security anymore?”

TradeWinds · June 2023

“Euronav legal victory over UniCredit tames ‘almighty’ power of bills of lading, lawyers claim”

Trade Finance Global · June 2023

“Unmasking trade finance fraud: The intricate web of balance sheets, fragmented information, and human biases”

The Jakarta Post · May 2023

“Carbon credits: Are we missing the forest for the trees?”

Berne Union · November 2022

“Credit insurance claims for commodities financing: Investigation red flags”

The Business Times · October 2022

“Invoice financing and credit insurance: Is the problem with product or conduct”

The Business Times · July 2022

“The brave new world of electronic transferable trade documents”

Global Trade Review · June 2022

“The risks, rewards and misconceptions around credit insurance”

The Business Times · January 2022

“Commodities in 2022: five themes that will dominate the headlines”

The Business Times · July 2021

“The commodities bull run: not all that glitters is gold”

The Business Times · February 2021

“The 2020 trade fraud scandals: have we learnt the right lessons?”

2026 Risk Mitigation Report: Risk, Resilience & Recovery
A key report for stakeholders navigating risk and how to structure design choices around verification,
After the 2020 collapse of commodity traders such as Hin Leong and Zenrock left banks
The most dangerous trade finance fraud may not involve obviously fake documents, but a transaction
The most dangerous trade finance fraud may not involve obviously fake documents, but a transaction
Director

Ramandeep Kaur

ramankaur@blackstonegold.com

Raman is a Director at BlackStone & Gold. She trained and qualified at a leading international law firm in Singapore, where she specialised in construction. She subsequently joined a boutique local firm, where she worked alongside Baldev Bhinder, before moving to establish BlackStone & Gold.

Her expertise spans a broad range of adversarial and advisory work in the energy and commodities sector, with a particular focus on asset recovery.

Raman's practice covers both international arbitration and Singapore court proceedings. She has argued matters before the Singapore High Court and the Singapore International Commercial Court, and has considerable experience assisting clients in international contractual disputes involving jurisdictions including Vietnam, China, the UK, Bangladesh and India.

She has acted for lenders and creditors across restructuring mandates, and regularly advises lenders and traders on trade finance matters. Raman is registered with the DIFC Courts (Part I), enabling the firm to act on record and manage cross-border litigation, advisory matters and dispute resolution within the DIFC jurisdiction.

What Clients Say

“Baldev and Raman are well known and respected. Very strong performers.”

The Legal 500, 2026

“Raman stands out for her professionalism, service level, and attention to detail.”

Benchmark Litigation, 2026

“Raman Kaur is a star. She is phenomenally hard working, knows the documents and the case inside out, and brings serious analytical heft and thought to the table. She is also a modest, joyful person to work with.”

The Legal 500, 2025

“Raman Kaur is one of the most hardworking disputes lawyers you will ever meet.”

The Legal 500, 2025
Recognition
Recognised as a Key Lawyer, 2022–2026
The Legal 500
Future Star, Commodities & Trade, 2026
Benchmark Litigation
Future Star, International Arbitration, 2025
Benchmark Litigation
Rising Star, 2024
Asian Legal Business (ALB)
Illustrative Matters
Arbitration
SIAC | Cement and clinker

Successfully obtained two SIAC Awards for a dispute under a clinker contract, as well as acting in concurrent enforcement proceedings in Dubai and challenge to setting aside proceedings in the Singapore courts.

AAA | Trade Credit Insurance

Co-counsel for the successful defence of claims about $100m brought against a insurance company by the liquidator of a trading company in respect of trade credit insurance claims.

LCIA | Oil

Acted for lenders in an LCIA London arbitration against guarantors in connection with an oil project in Africa, obtaining an award of $60 million. The dispute involved factually complex allegations of fraud.

SIAC | Petrochemicals

Co-counsel with a Chinese law firm in defending three SIAC demurrage claims totalling approximately $18 million against a Chinese petrochemical company.

GAFTA | Agricultural commodities

Acted for a Singapore agri-trader in six London GAFTA arbitrations against a single counterparty that wrongfully refused delivery, including advice on the practical issues of importing, storing and reselling the cargo and the consequences for the measure of damages.

LMAA | Shipping and oil

Acted for a Japanese oil trader in LMAA proceedings arising from the breakdown of a vessel's engine, involving complex causation issues on consequential damages and attendant general average claims.

SIAC | Metals

Acted for a trader in an SIAC arbitration pursuing a $14 million claim against a Chinese conglomerate arising from a series of copper trades.

SIAC | Coal

Acting for a Singapore trader to resist demurrage claims, in a dispute turning on coal loading practices in Indonesia.

SIAC | Metals

Acted for a trader in an SIAC arbitration pursuing a $14 million claim against a Chinese conglomerate arising from a series of copper trades.

SIAC | Steel

Acted for a Bangladesh steel conglomerate in SIAC arbitrations in relation to termination of international sale contracts involving claims of $5 million.

Commercial Litigation — Singapore and Foreign Courts
SICC | Trade credit insurance

Acted for QBE Insurance (Singapore) Pte Ltd in the Singapore International Commercial Court in a significant decision on the adjudication of claims under a trade credit insurance policy. The defence established, among other things, that the claims pursued of approx. US$ 9 million related to fictitious trades (Marketlend Pty Ltd and another v QBE Insurance (Singapore) Pte Ltd [2025] SGHC(I) 1). The case won Impact Case of the Year at Benchmark Litigation’s Asia Pacific Awards.

Singapore High Court | Trade credit insurance

Acted for a global credit insurer in two further Singapore High Court actions concerning trade credit insurance claims totalling approx. US$15 million, obtaining judgment in default of appearance in one and negotiating a settlement in the other.

Singapore High Court | Mining finance

Acted for a Singapore trading company in claims arising from a loan for an African mining project, including advice on jurisdictional challenges, and coordinating related proceedings in Zambia.

Singapore High Court | Shipping

Acted for a Singapore trader in a claim against vessel owners for misdelivery of a sugar cargo.

Singapore High Court | Trade finance

Acted for a Singapore trader to enforce a $4 million claim for payment under a letter of credit against a Bangladeshi bank. The matter concluded amicably.

Singapore & England and Wales | Shipping finance

Acted as instructing solicitors in London proceedings for a lender, including obtaining a worldwide freezing order against six defendants in respect of sums in excess of $150 million diverted from a facility financing the purchase of vessels. Also acted as Singapore counsel in the related restructuring and (highly contested) bankruptcy proceedings.

DIFC Courts | Commodities

Acted as instructing solicitors in DIFC proceedings to enforce a contested DIAC award.

Singapore High Court | Engineering

Acted for a petrochemical engineering firm against its JV partner in the Singapore High Court followed by successful mediation.

Singapore High Court | Professional negligence

Acted for a lender in the Singapore High Court against a broking firm for losses arising out of negligent advice in the trade finance structuring, followed by successful mediation.

Investigations and Asset Recovery
Global | Commodities

Advised a number of credit insurers on alleged commodity trades in excess of $500 million across Asia, South America and Europe, and conducting investigations into whether those trades were genuine physical trades.

Singapore| Corporate Investigation

Advised a Singapore company on the investigation of employee embezzlement, including criminal and civil routes to asset recovery.

UAE, HK, India | Asset Recovery

Advised a trade finance fund pursuing recoveries in excess of $100 million against third parties in India, the UAE and Hong Kong in connection with the collapse of the Phoenix group.

Global | Asset Recovery

Advised for a lender in a global asset recovery exercise for claims in excess of $150 million, including freezing orders and the mapping of assets across multiple jurisdictions and through associated third parties.

USA | Trade Credit

Investigated trade credit insurance claims for an American insurer in respect of trades that are the subject of US litigation.

Australia | Trade credit insurance

Advised an insurer in Australian court proceedings concerning claims arising from potentially connected parties creating trades in order to raise financing.

Restructuring and Insolvency
Singapore | Bankruptcy

Acting for the private trustees in bankruptcy of three bankrupts in an application for their joinder to litigation raising questions of beneficial ownership of property, and advising the trustees on sanctioning the bankrupts' defence of the claim.

Singapore | Oil trading insolvency

Advised a creditor on its claims and counterclaims against Hin Leong following its insolvency, arising from a complex chain of trades.

Singapore | Court-supervised restructuring

Acted for the largest secured lender in the court-supervised restructuring of InterChem Pte Ltd, with debts exceeding $300 million.

Singapore | Restructuring and bankruptcy

Acted for the lender in the restructuring and insolvency of Somap International Pte Ltd in relation to debt of approximately $150 million, and in heavily contested bankruptcy proceedings against its director.

Singapore | Banks

Advised a consortium of banks on a substantial loan default, connected Singapore restructuring and insolvency proceedings, and eventual asset recovery options.

Singapore | Steel

Acted for a steel company on claims against a Singapore debtor, including the validity and effect of an attempted court-supervised restructuring.

Singapore High Court | Winding up

Advised a commodities trading company on winding-up proceedings against a counterparty for non-payment under a loan agreement, including negotiating repayment arrangements, structuring consent orders and pursuing recovery strategy in the face of default.

Singapore | Retail insolvency

Acting for an insurer in Singapore insolvency proceedings against a prominent sports apparel and equipment retailer, including structuring and advancing retention of title claims, negotiating with the liquidator on recovery and apportionment, and maximising creditor recoveries in the winding up.

Singapore High Court | Construction and industrials

Acted for an industrial client in debt recovery and insolvency-related proceedings involving project counterparties, including resisting applications to set aside statutory demands, advising on winding-up strategy, and addressing arbitration and stay applications and subsequent liquidation steps.

2026 Risk Mitigation Report: Risk, Resilience & Recovery
A key report for stakeholders navigating risk and how to structure design choices around verification,
After the 2020 collapse of commodity traders such as Hin Leong and Zenrock left banks
The most dangerous trade finance fraud may not involve obviously fake documents, but a transaction
The most dangerous trade finance fraud may not involve obviously fake documents, but a transaction
Director

Joyce Fong

joycefong@blackstonegold.com

Joyce Fong is an English-qualified solicitor advocate specialising in complex, high-value, cross-border disputes. With over a decade of experience at Reed Smith, she advises clients on matters involving multiple jurisdictions, governing laws and counterparties. Her practice focuses on international commercial arbitration, alongside mediation and litigation. Joyce is known for delivering strategic, commercially grounded advice in contentious matters where legal, technical and operational issues intersect.

Joyce has extensive experience acting in arbitrations under the rules of major institutions, including the Singapore International Arbitration Centre (SIAC), International Chamber of Commerce (ICC), London Court of International Arbitration (LCIA) and Hong Kong International Arbitration Centre (HKIAC). She also regularly manages complex court proceedings in key dispute resolution hubs, including London, Singapore, Korea, India, Hong Kong and Australia. She has represented clients across a broad range of industries, including energy and natural resources, life sciences, transportation and emerging technologies.

Joyce is a Member of the Chartered Institute of Arbitrators (UK) and an Accredited Mediator with the Singapore Mediation Centre. She currently serves as the YIAG Regional Representative for Asia-Pacific for the LCIA. Joyce speaks English, Bahasa, Cantonese and Mandarin.

Illustrative Matters
Arbitration

Acted for a commodities trader in an SIAC arbitration under the Streamlined Procedure, defending a demurrage claim arising from alleged loading delays and cargo safety issues.

Acted for a bank in an SIAC arbitration against two Vietnamese lenders for the recovery of over USD 30 million, including advising on enforcement in Vietnam.*

Acted for a major commodities trading house in a series of London- and Singapore-seated arbitrations involving misdelivery claims brought by holders of original bills of lading against carriers.*

Acted for a commodities company in an HKIAC arbitration against its trade credit insurers following their refusal to pay out under a policy, involving issues of insurance disclosure, agency and estoppel.*

Acted for a commodities company in a series of CIETAC, FOSFA and SIAC arbitrations against a Chinese buyer, with damages totalling US$6.5 million.*

Acted for purchasers in a GAFTA arbitration concerning non-delivery of cargo, in which the tribunal awarded damages to the purchasers.*

Acted for an Indonesian company in two related SIAC arbitrations arising from a joint venture dispute concerning the development of a 220 MW geothermal power plant in Indonesia, with claims and counterclaims exceeding US$33 million.*

Acted for subsidiaries of a major Kazakh oil and gas construction group in two Kazakh law-governed LCIA arbitrations arising from delayed payments.*

Acted for a ship construction company in a US$120 million construction dispute governed by Thai law.*

Acted for an offshore contractor in three SIAC arbitrations arising from the construction of an offshore accommodation platform, with a total dispute value of approximately S$9 million.*

Acted for a video games company in an SIAC arbitration brought by a competitor concerning the purported settlement of underlying Singapore court proceedings for copyright infringement and passing off.*

Acted for a pharmaceutical company in two consolidated SIAC arbitrations involving alleged breaches of licensing and research agreements. The claims, which exceeded US$300 million, were dismissed in full.*

Acted for shipowners in an LMAA arbitration arising from charterparty claims following an engine room fire, and advised shipowners on related claims under general average.*

Acted for a Saudi Arabian marine services company in an LMAA arbitration arising from a series of aborted ship sale and purchase contracts.*

Acted for an energy company in an arbitration involving the construction of an offshore wind farm.*

*Work completed prior to BlackStone & Gold.

Commercial Litigation

Acting for a commodities trading company in claims arising from unpaid debt and breaches of an offtake agreement, with ongoing court proceedings in Singapore and Zambia.

Acted for a construction materials manufacturing company in proceedings against its former CEO and director for breaches of directors’ duties and misappropriation of intellectual property valued at more than US$100 million, involving arbitration in Switzerland and court proceedings in Singapore, Hong Kong and Australia.*

Advised shipowners following the detention of their vessel and master in Thailand due to purported non-compliance with customs law, including related English court proceedings against charterers.*

Advised shipowners in respect of multiple Korean court proceedings arising from allisions with a shipyard's dry dock and a neighbouring gas terminal.*

Acted for two members of the Saudi royal family in high-profile litigation which went up to the English Court of Appeal and included issues of confidentiality and sovereign immunity.*

Acted for a bank in defending claims arising from the Icelandic bank insolvency crisis.*

*Work completed prior to BlackStone & Gold.

Risk Mitigation

Advising commodities traders on managing contractual risk arising from trade flow disruptions through the Straits of Hormuz.

Advised a telecommunications company on a potential ICC arbitration, including enforcement in Cambodia, concerning the non-payment of more than US$64 million.*

Acted for charterers in respect of potential claims against shipowners following the detention of a cargo-laden vessel in Indonesia due to improper seafaring documents.*

Advised a commodities company on issues arising from the potential insolvency of a significant debtor.*

Advised an award debtor in respect of its obligations to a sanctioned Iranian entity under an arbitral award for £500 million.*

Acted for Barclays in relation to investigations by the then Financial Services Authority and the Serious Fraud Office in relation to its capital raisings in 2008.*

*Work completed prior to BlackStone & Gold.

Publications
LEXISNEXIS LEGAL GUIDANCE · MARCH 2026
“Introduction to AIAC Arbitration Rules 2026”
LEXISNEXIS LEGAL GUIDANCE · MARCH 2026
“AIAC Arbitration Rules—the award”
LEXISNEXIS LEGAL GUIDANCE · MARCH 2026
“AIAC Arbitration Rules—the arbitral tribunal”
LEXISNEXIS LEGAL GUIDANCE · MARCH 2026
“AIAC Arbitration Rules—starting an arbitration”
LEXISNEXIS LEGAL GUIDANCE · MARCH 2026
“AIAC Arbitration Rules—procedural requests”
LEXISNEXIS LEGAL GUIDANCE · MARCH 2026
“AIAC Arbitration Rules—fast track procedure”
LEXISNEXIS LEGAL GUIDANCE · MARCH 2026
“AIAC Arbitration Rules—emergency arbitration”
LEXISNEXIS LEGAL GUIDANCE · MARCH 2026
“AIAC Arbitration Rules—costs and deposits”
DATA CENTERS: BYTES AND RIGHTS · JUNE 2025
“Strategies for handling data center disputes”
2026 Risk Mitigation Report: Risk, Resilience & Recovery
A key report for stakeholders navigating risk and how to structure design choices around verification,
After the 2020 collapse of commodity traders such as Hin Leong and Zenrock left banks
The most dangerous trade finance fraud may not involve obviously fake documents, but a transaction
The most dangerous trade finance fraud may not involve obviously fake documents, but a transaction

Samuel Tan

Samuel is a Consultant with the Firm. He qualified as a Solicitor of England and Wales and has worked in London and Singapore with a leading international law firm from 2009 to 2017. Sam & Baldev were previously colleagues at the market-leading Energy practice of Ashurst. He subsequently took on a business role with a family office.

Sam has specific expertise in negotiating and managing complex multi-party commercial transactions that form part of the broader energy value chain; including international commodities sale and purchases, M&A for oil and gas assets/infrastructure, as well as other related business activities such as storage, maintenance, and shared usage of common facilities.  Notably, he has advised key LNG market players and terminal users /developers in Southeast Asia including Pavilion Gas, PETRONAS, and Pertamina.

Having valuable first-hand commercial experience in petrochemical trading operations and industry benchmark pricing – clients seek out Sam’s unique ability to appreciate the transaction from both legal and commercial perspectives.  Sam’s previous legal experience helps him to customize solutions that address, and dovetail with, the specific pressures facing his clients. He is now a non-practising Consultant on oil, gas, and LNG related matters.

Samuel Tan

Samuel is a Consultant with the Firm. He qualified as a Solicitor of England and Wales and has worked in London and Singapore with a leading international law firm from 2009 to 2017. Sam & Baldev were previously colleagues at the market-leading Energy practice of Ashurst. He subsequently took on a business role with a family office.

Sam has specific expertise in negotiating and managing complex multi-party commercial transactions that form part of the broader energy value chain; including international commodities sale and purchases, M&A for oil and gas assets/infrastructure, as well as other related business activities such as storage, maintenance, and shared usage of common facilities.  Notably, he has advised key LNG market players and terminal users /developers in Southeast Asia including Pavilion Gas, PETRONAS, and Pertamina.

Having valuable first-hand commercial experience in petrochemical trading operations and industry benchmark pricing – clients seek out Sam’s unique ability to appreciate the transaction from both legal and commercial perspectives. Samuel graduated with a degree in law from the University of Cambridge, UK.

Relevant Engagements

Publications

2026 Risk Mitigation Report: Risk, Resilience & Recovery
A key report for stakeholders navigating risk and how to structure design choices around verification,
After the 2020 collapse of commodity traders such as Hin Leong and Zenrock left banks
The most dangerous trade finance fraud may not involve obviously fake documents, but a transaction
The most dangerous trade finance fraud may not involve obviously fake documents, but a transaction

Yan Hu

Yan Hu qualified in the People’s Republic of China and began her career at a Beijing law firm, where she advised Chinese clients on M&A, IPOs, and foreign investment. She has over 15 years of experience in international trade, commodities, and corporate transactions. Based in Singapore and fluent in both Chinese and English, Yan has served in senior legal roles at global trading companies, consistently supporting transactions and disputes across Asia, North America, and the UK.

Yan served as a Legal Consultant at Mitsubishi Corporation RtM in Singapore, where she led contract negotiations and advised on legal matters related to lithium trading, including drafting General Terms and Conditions and handling transactional and dispute-related issues. She was previously Corporate Counsel for Sales & Marketing at Rio Tinto and played a key role in structuring and negotiating sales agreements across various commodities. She built standard templates to streamline deal execution and worked closely with commercial teams to provide practical, solution-oriented legal advice, especially aligned with China-specific business needs. At Bunge, Yan handled a wide range of commodity trading contracts, supported the legal setup of subsidiaries and joint ventures, and provided legal guidance on corporate restructuring and M&A projects. 

Yan holds an LL.M. in Corporate and Financial Services Law from the National University of Singapore, and a Master of Law in International Commercial Law from the University of International Business & Economics in Beijing. As a native of PRC and a resident of Singapore, Yan is an invaluable part of the BG team in its offering to Chinese related companies. 

Yan Hu

Yan Hu qualified in the People’s Republic of China and began her career at a Beijing law firm, where she advised Chinese clients on M&A, IPOs, and foreign investment. She has over 15 years of experience in international trade, commodities, and corporate transactions. Based in Singapore and fluent in both Chinese and English, Yan has served in senior legal roles at global trading companies, consistently supporting transactions and disputes across Asia, North America, and the UK.

Yan served as a Legal Consultant at Mitsubishi Corporation RtM in Singapore, where she led contract negotiations and advised on legal matters related to lithium trading, including drafting General Terms and Conditions and handling transactional and dispute-related issues. She was previously Corporate Counsel for Sales & Marketing at Rio Tinto and played a key role in structuring and negotiating sales agreements across various commodities. She built standard templates to streamline deal execution and worked closely with commercial teams to provide practical, solution-oriented legal advice, especially aligned with China-specific business needs. At Bunge, Yan handled a wide range of commodity trading contracts, supported the legal setup of subsidiaries and joint ventures, and provided legal guidance on corporate restructuring and M&A projects. 

Yan holds an LL.M. in Corporate and Financial Services Law from the National University of Singapore, and a Master of Law in International Commercial Law from the University of International Business & Economics in Beijing. As a native of PRC and a resident of Singapore, Yan is an invaluable part of the BG team in its offering to Chinese related companies.

2026 Risk Mitigation Report: Risk, Resilience & Recovery
A key report for stakeholders navigating risk and how to structure design choices around verification,
After the 2020 collapse of commodity traders such as Hin Leong and Zenrock left banks
The most dangerous trade finance fraud may not involve obviously fake documents, but a transaction
The most dangerous trade finance fraud may not involve obviously fake documents, but a transaction

Nikhil Sundaraj

Nikhil is a Singapore-qualified lawyer and a law graduate of the University of Cambridge. Nikhil has worked for the Singapore office of an international law firm, as well as one of Singapore’s leading law firms where he worked on various commercial disputes.

Nikhil’s practice at present covers commercial disputes with a focus on international trade disputes. He has argued before the Singapore Courts and has been involved in Singapore and UK arbitration matters.

Nikhil has a keen interest on climate and environmental law. He assisted drafting a model bilateral investment treaty for Gambia with a focus on environmental protection. He has also published several research papers in the areas of climate change law and policy, sustainability and the interplay of AI and the law. Nikhil has previously held appointments at the Asia-Pacific Centre for Environmental Law in the National University of Singapore. Away from work, Nikhil is also the International Environmental Law Program Coordinator with the Global Pro Bono Bar Association.

Nikhil speaks English, Malay, Bahasa Indonesia and Spanish.

Senior Associate

Nikhil Sundaraj

nikhildutt@blackstonegold.com

Nikhil is a Singapore-qualified lawyer and a law graduate of the University of Cambridge. Nikhil has worked for the Singapore office of an international law firm, as well as one of Singapore’s leading law firms where he worked on various commercial disputes.

Nikhil’s practice at present covers commercial disputes with a focus on international trade disputes. He has argued before the Singapore Courts and has been involved in Singapore and UK arbitration matters.

Nikhil has a keen interest in climate and environmental law. He assisted in drafting a model bilateral investment treaty for Gambia with a focus on environmental protection. He has also published several research papers in the areas of climate change law and policy, sustainability and the interplay of AI and the law. Nikhil has previously held appointments at the Asia-Pacific Centre for Environmental Law in the National University of Singapore. Away from work, Nikhil is also the International Environmental Law Program Coordinator with the Global Pro Bono Bar Association.

Nikhil speaks English, Malay, Bahasa Indonesia and Spanish.

Illustrative Matters
Arbitration and Trade Disputes
SIAC | Commodities

Acting for a Swiss commodities trader in a dispute for restitution under the SIAC Rules.

GAFTA | Agricultural commodities

Acting for a Singapore based agri-trader in respect of various disputes and GAFTA proceedings.

SIAC & SICC | Distribution

Acted for a Philippines-based distribution company in arbitral proceedings before the Singapore International Arbitration Centre, and litigation before the Singapore International Commercial Court.

Commercial Litigation and Enforcement
Singapore | Bankruptcy

Acting for a multinational trader in respect of bankruptcy proceedings brought against a Singapore based debtor.

Singapore | Enforcement

Represented multiple large multinational companies in enforcement of foreign judgment and garnishee proceedings in Singapore.

Singapore High Court | Breach of trust

Successfully acted for a high-net worth individual in a high-profile breach of trust matter. Reported judgment before the Singapore High Court in Sir Cornelius Sean Sullivan v Hill Capital Pte Ltd and anor [2024] SGHC 157.

2026 Risk Mitigation Report: Risk, Resilience & Recovery
A key report for stakeholders navigating risk and how to structure design choices around verification,
After the 2020 collapse of commodity traders such as Hin Leong and Zenrock left banks
The most dangerous trade finance fraud may not involve obviously fake documents, but a transaction
The most dangerous trade finance fraud may not involve obviously fake documents, but a transaction

Rakesh Vedam

Rakesh is a Singapore qualified lawyer, with interests and experience in international arbitration, trade finance, commodities disputes, and insurance matters. He has acted in arbitration proceedings administered under SIAC, DIAC, and LCIA rules, representing clients including major global traders.

He has also appeared in litigation matters before the Singapore High Court and the Singapore International Commercial Court (SICC) for disputes in the commodities and insurance sectors. Notably, he was part of the legal team representing a leading insurer in a landmark SICC decision that dismissed claims under a trade credit insurance policy involving alleged fictitious commodity trades.

Rakesh graduated from the National University of Singapore and is called to the Singapore Bar.  He is fluent in English and Tamil.

Senior Associate

Rakesh Vedam

rakeshvedam@blackstonegold.com

Rakesh is a Singapore qualified lawyer, with interests and experience in international arbitration, trade finance, commodities disputes, and insurance matters. He has acted in arbitration proceedings administered under SIAC, DIAC, and LCIA rules, representing clients including major global traders.

He has also appeared in litigation matters before the Singapore High Court and the Singapore International Commercial Court (SICC) for disputes in the commodities and insurance sectors. Notably, he was part of the legal team representing a leading insurer in a landmark SICC decision that dismissed claims under a trade credit insurance policy involving alleged fictitious commodity trades.

Rakesh graduated from the National University of Singapore and is called to the Singapore Bar. He is fluent in English and Tamil.

Illustrative Matters
Arbitration and Trade Disputes
SIAC | Agribusiness

Acting for a leading international agribusiness company based in Singapore in SIAC arbitration proceedings.

LCIA | Trade credit insurance

Acted in LCIA proceedings successfully obtaining an award in respect of a trade credit insurance claim.

DIAC | Metals

Acted for a global metals trading company and successfully obtained a DIAC award in its favour against a defaulting counterparty.

Commercial Litigation and Enforcement
Singapore High Court | Trade insurance

Acting for a global credit insurer in two Singapore High Court proceedings concerning trade insurance claims, and involving allegations of fictitious trades and fraudulent conduct.

SICC | Trade credit insurance

Acted for leading global insurer QBE in its successful defence in respect of trade credit insurance claims in Marketlend Pty Ltd and another v QBE Insurance (Singapore) Pte Ltd [2025] SGHC(I) 1.

Singapore | Enforcement

Successfully acted for a construction company in enforcing a judgment, including conducting Examination of Enforcement Respondent proceedings and obtaining garnishee orders to secure recovery.

Restructuring and Insolvency
Singapore | Renewable energy

Acted for a creditor in insolvency proceedings involving a renewable energy company.

2026 Risk Mitigation Report: Risk, Resilience & Recovery
A key report for stakeholders navigating risk and how to structure design choices around verification,
After the 2020 collapse of commodity traders such as Hin Leong and Zenrock left banks
The most dangerous trade finance fraud may not involve obviously fake documents, but a transaction
The most dangerous trade finance fraud may not involve obviously fake documents, but a transaction

Joao Evangelista

Joao is qualified in Brazil and Portugal with an extensive experience dedicated to international trade, commodities, and corporate transactions. Joao has worked in senior legal roles at a major global mining company where he provided strategic legal support for transactions, disputes and projects across Asia, Europe, Africa, and Brazil.

He was most recently the senior legal counsel at Vale where he had an instrumental involvement in a diverse range of projects, including construction of port terminals, the sale and lease back of large bulk carriers, development of industrial and warehouse facilities, establishing of joint ventures, and negotiation of long-term supply contracts. At Vale, Joao was dedicated to support the sales, chartering and trade teams, and working closely with these teams he provided practical, solution-oriented legal advice and supported the teams in the structuring and negotiating of sales, transport and trade agreements.

Joao holds a LL.M in in Legal Aspects of Marine Affairs and Commercial Law by the University of Wales, College of Cardiff, and specialized in corporate law by the Fundação Dom Cabral in Brazil.

Currently based in the Netherlands, Joao’s international career has seen him work in Brazil, the UK, Switzerland and Singapore, where he spent 12 years.

Joao Evangelista

Joao is qualified in Brazil and Portugal with an extensive experience dedicated to international trade, commodities, and corporate transactions. Joao has worked in senior legal roles at a major global mining company where he provided strategic legal support for transactions, disputes and projects across Asia, Europe, Africa, and Brazil.

He was most recently the senior legal counsel at Vale where he had an instrumental involvement in a diverse range of projects, including construction of port terminals, the sale and lease back of large bulk carriers, development of industrial and warehouse facilities, establishing of joint ventures, and negotiation of long-term supply contracts. At Vale, Joao was dedicated to support the sales, chartering and trade teams, and working closely with these teams he provided practical, solution-oriented legal advice and supported the teams in the structuring and negotiating of sales, transport and trade agreements.

Joao holds a LL.M in in Legal Aspects of Marine Affairs and Commercial Law by the University of Wales, College of Cardiff, and specialized in corporate law by the Fundação Dom Cabral in Brazil. Currently based in the Netherlands, Joao’s international career has seen him work in Brazil, the UK, Switzerland and Singapore, where he spent 12 years.

2026 Risk Mitigation Report: Risk, Resilience & Recovery
A key report for stakeholders navigating risk and how to structure design choices around verification,
After the 2020 collapse of commodity traders such as Hin Leong and Zenrock left banks
The most dangerous trade finance fraud may not involve obviously fake documents, but a transaction
The most dangerous trade finance fraud may not involve obviously fake documents, but a transaction

Dora Neo

Dora Neo is an Associate Professor at the Faculty of Law, National University of Singapore. She was the founding Director of the Faculty’s Centre for Banking & Finance Law and is Director of its LLM (Corporate and Financial Services Law) programme. Her current research focuses on modernisation of trade finance, global developments in secured transactions law, consumer protection in the financial industry, and contract law. Her work on trade finance has been referred to by courts in Singapore and other jurisdictions.

She was previously Vice-Dean (Research & Graduate Studies) at NUS Law and Director of its Continuing Legal Education Programme. She has spoken or taught at institutions in Asia, the UK, USA, Europe, Australia and New Zealand. She has been a member of the Accreditation Committee of the Singapore Institute of Legal Education (SILE) since the inception of its Continuing Professional Development programme in 2012. She was an expert adviser on the Singapore delegation to United Nations Commission for International Trade Law (UNICTRAL) meetings in Vienna, Austria (2023) and New York City, USA (2024). She was appointed by the International Institute for the Unification of Private Law (UNIDROIT) as a Correspondent for Singapore for two consecutive three-year terms ending in 2028 and serves as an Advisory Committee Member for the UNIDROIT Asian Transnational Law Centre. 

She is a first-class honours graduate of Oxford University and holds an LLM from Harvard Law School. She is a non-practising member of the Bar in London (Gray’s Inn) and in Singapore. 

Dora Neo

Dora Neo is an Associate Professor at the Faculty of Law, National University of Singapore. She was the founding Director of the Faculty’s Centre for Banking & Finance Law and is Director of its LLM (Corporate and Financial Services Law) programme. Her current research focuses on modernisation of trade finance, global developments in secured transactions law, consumer protection in the financial industry, and contract law. Her work on trade finance has been referred to by courts in Singapore and other jurisdictions.

She was previously Vice-Dean (Research & Graduate Studies) at NUS Law and Director of its Continuing Legal Education Programme. She has spoken or taught at institutions in Asia, the UK, USA, Europe, Australia and New Zealand. She has been a member of the Accreditation Committee of the Singapore Institute of Legal Education (SILE) since the inception of its Continuing Professional Development programme in 2012. She was an expert adviser on the Singapore delegation to United Nations Commission for International Trade Law (UNICTRAL) meetings in Vienna, Austria (2023) and New York City, USA (2024). She was appointed by the International Institute for the Unification of Private Law (UNIDROIT) as a Correspondent for Singapore for two consecutive three-year terms ending in 2028 and serves as an Advisory Committee Member for the UNIDROIT Asian Transnational Law Centre.  She is a first-class honours graduate of Oxford University and holds an LLM from Harvard Law School. She is a non-practising member of the Bar in London (Gray’s Inn) and in Singapore. 

Recent Engagements

Publications

2026 Risk Mitigation Report: Risk, Resilience & Recovery
A key report for stakeholders navigating risk and how to structure design choices around verification,
After the 2020 collapse of commodity traders such as Hin Leong and Zenrock left banks
The most dangerous trade finance fraud may not involve obviously fake documents, but a transaction
The most dangerous trade finance fraud may not involve obviously fake documents, but a transaction