- January 2025
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Team

Team
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Baldev Bhinder
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Samuel Tan
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Ramandeep Kaur
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Poonaam Bai

Baldev Bhinder
Baldev is the Managing Director of the Firm. He is dual qualified in Singapore and England with more than 18 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 the Energy & Commodities practice at a Singapore law firm.
Baldev is a leading expert in O&G and Commodities and advises on all aspects of the supply chain from trading and trade finance arrangements to international recoveries and arbitration. 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.
He is a regular speaker at the Financial Times Asian Commodities Conference alongside industry titans and ministers as well as a contributing writer to the Singapore Business Times. He is particularly active in the Indonesian and South Asian markets where he acts for foreign investors, financiers, international companies, and conglomerates.
Baldev is recognised as a trailblazer in the legal sector: he was nominated as Asia’s top “40 under 40” lawyers by Asian Legal Business, as one of 20 rising Singapore legal luminaries in the Singapore Business Review and in Prestige Magazine’s top 40 list of leaders. He is also ranked for his work in international arbitration and trade by the legal directories of Legal 500, Benchmark Litigation and Who’s Who Legal. In 2023, Baldev was ranked by Asian Legal Business as one of the top 50 litigators in Asia.

Baldev Bhinder
Baldev is dual qualified in Singapore and England with nearly 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 a leading expert in O&G and Commodities and advises on all aspects of the supply chain from trading and trade finance arrangements to international recoveries and arbitration. 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. His practice covers international arbitration alongside complex Singapore and global litigation cases often marshalling teams of experts in crisis management situations. He has a wealth of experience in international cases and asset recovery and is presently involved in global litigation cases in at least 10 different countries.
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.
Baldev is a Fellow of the Chartered Institute of Arbitrators, UK. He speaks English, Punjabi, Bahasa, Hindi & Spanish.
“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 and his team are the holy grail for dispute resolution and arbitration in Singapore. They are lean, hard-working, and highly skilled.”
“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 a true expert in commodities trading legal issues. He has a wealth of experience and is a hardworking and creative lawyer.”
Benchmark Litigation 2024
“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.”
Legal 500 Asia Pacific 2023
“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
Recent Engagements
- Successfully acted for lenders in LCIA London arbitration involving an oil project in Africa to obtain a $60 million award in their favour.
- Investigating claims in excess of $70m arising from commodities contracts made by various trade finance funds and acting as lead counsel in Singapore litigations involving allegations of fictitious trades.
- Advised a large commodities trader in respect of a purchase of distressed agri-cargo in Africa in excess of $50 million
- Coordinated London litigation for a lender including in proceedings for a worldwide freezing order against six defendants for diverted sums in excess of $150 million and acted as Singapore counsel in Singapore court restructuring proceedings
- Acting for a national oil company in respect of claims and counterclaims arising from the non-performance of oil contracts.
- Advised a subsidiary of a Middle East investment authority in relation to joint venture investments exceeding $2 billion.
- Acted for a trade finance fund in pursuing recoveries in excess of $100 million against various third parties in India, UAE and HK connected with the Phoenix Group collapse.
- Advising the largest secured lender in relation to court ordered restructuring of InterChem Pte Ltd, with debts exceeding $300 million during the course of Singapore court restructuring proceedings.
- Assisting insurers in relation to investigating alleged commodities trades in excess of $400 million across Asia, South America and Europe.
- Successfully acted for a trader in an SIAC arbitration in a $14 million claim against a Chinese conglomerate arising from several copper trades.
- Acted for a trader in enforcing a US$ 4 million payment under letters of credit issued by a Bangladeshi bank.
- Successfully acted for a trader in SIAC proceedings against a miner involving a hacking and diversion of payment.
- Acting for an oil trading company in SIAC proceedings involving termination of contracts arising out of sanctions.
- Advising and acting for an oil company in an LMAA arbitration in relation to disputes arising out of a charterparty
- Acting for a large trading company in LCIA arbitration proceedings in respect of an indemnity arising from the sale and purchase of steel.
- Advising an oil trader in respect of its claims and liabilities arising from its offtake arrangements connected with the judicial management and eventual insolvency of Zenrock Commodities Trading.
- Acting for creditors and liquidators in various Singapore court restructuring matters.
- Advised on various power projects including EPC arrangements for solar projects in Bangladesh
- Advised contractors in the offshore construction company in respect of rights concerning specialized marine equipment
- Advised lenders and traders on various commodities trade finance facilities
- Advised and streamlined the global procurement and trading contracts for an Australian miner.
Publications
- "Euronav legal victory over UniCredit tames ‘almighty’ power of bills of lading, lawyers claim", TradeWinds, June 2023.
- "Misdelivery: Are BLs good security anymore?" Manifold Times, June 2023.
- "Unmasking trade finance fraud: The intricate web of balance sheets, fragmented information, and human biases", Trade Finance Global, June 2023.
- "Carbon credits: Are we missing the forest for the trees?" The Jakarta Post, May 2023.
- "Credit insurance claims for commodities financing: Investigation red flags", Berne Union, November 2022.
- “Invoice financing and credit insurance: Is the problem with product or conduct”, The Business Times, October 2022.
- “The brave new world of electronic transferable trade documents”, The Business Times, July 2022.
- "The risks, rewards and misconceptions around credit insurance", Global Trade Review, June 2022.
- “Commodities in 2022: five themes that will dominate the headlines”,The Business Times, January 2022.
- “The commodities bull run: not all that glitters is gold”, The Business Times, July 2021.
- “The 2020 trade fraud scandals: have we learnt the right lessons?” , The Business Times, February 2021.
- "Singapore oil traders rush to reassure clients", The Financial Times,April 2020.
- "In the land of the blind, the one-eyed man is king: The opaque world of international trade", TXF News, December 2019
- “The key to reducing fraud in international trade” Singapore Business Times, February 2018.
- Articles
- Videos
- September 2024
Webinar: THE LAW SHOULD CALL A FRAUD, A FRAUD: LETTERS OF CREDIT & FRAUD
- Events
- August 2024
BG 5th Anniversary Party Photos

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.
Recent Engagements
- Advising Pavilion Gas in relation to its successful bid for a Singapore LNG import licence (2016), as well as on its first publicly announced long-term LNG sale and purchase agreement.
- Advising Pertamina in relation to its US$2 billion acquisition of several Malaysian upstream oil and gas exploration assets (Asian Lawyer “Energy Deal of the Year” 2015).
- Advising PETRONAS on the development of its 2nd LNG receiving terminal located at its Pengerang Integrated Complex in Southern Johor, Malaysia.
- Advising a Singapore based energy trader in relation to LNG master sales arrangements with more than 15 potential counterparties.
- An in-house role at Mitsui Asia-Pacific Pte Ltd, where he advised in relation to a wide range of commodity flow contracts and trade-related legal queries.
Publications
- Portfolio” LNG SPAs: Who Benefits? Parts 1 and 2, Gastech Insights, Apr – Jun 2016, co-authored with Daniel Reinbott.
- “Gas sales agreements: sole remedy for failure to deliver”, 2015.
- "LNG – overview and project essentials" Chapter in the Oil and Gas: A Practical Handbook, Second Edition published by Globe Law and Business in 2014, co-authored with Daniel Reinbott and Erin Dyer.
- "Myanmar natural gas: how much can investors expect to export”, December 2013.
- "AIPN releases new 2012 version of its model LNG master sales agreement", July 2012.
- Articles
- January 2025
Actual physical sale and shipment of goods: the touchstone of trade credit insurance claims
- Videos
- September 2024
Webinar: THE LAW SHOULD CALL A FRAUD, A FRAUD: LETTERS OF CREDIT & FRAUD
- Events
- August 2024
BG 5th Anniversary Party Photos

Ramandeep Kaur
Raman is a Director with the Firm. She trained and qualified with a leading international law firm in Singapore specializing in construction. Raman worked with Baldev in her previous role and moved with the team when BlackStone & Gold was set up. Her expertise covers a broad range of international trade and construction related issues in the energy and commodities sector.
Raman’s core focus is on international arbitration, but she has also appeared before the Singapore High Court for restructuring and contractual disputes. She has been recognized as a key lawyer in Legal 500 2022, 2023 and 2024 for International Arbitration and commended as “standing out” for her “knowledge, professionalism, service level and attention”, and for having proven to be a “worthy ally” for her clients.

Ramandeep Kaur
Raman is a Director with the Firm. She trained and qualified with a leading international law firm in Singapore specializing in construction. Raman worked with Baldev in her previous role and moved with the team when BlackStone & Gold was set up. Her expertise covers a broad range of international trade and construction related issues in the energy and commodities sector.
Raman’s practice covers both international arbitration and Singapore High Court matters. She has argued on matters before the Singapore High Court and the Singapore International Commercial Court. She has considerable experience assisting clients in international contractual disputes involving jurisdictions such as Vietnam, China, UK, Bangladesh and India. Raman has also acted for lenders and creditors in numerous restructuring mandates and regularly advises lenders and traders on trade finance matters.
Raman has been recognized as a key lawyer in Legal 500 2022, 2023 and 2024 for International Arbitration and commended as “standing out” for her “knowledge, professionalism, service level and attention”, and for having proven to be a “worthy ally” for her clients.
Recent Engagements
- Acted for lenders in LCIA London arbitration involving an oil project in Africa and successfully obtained a $60 million award in their favour.
- 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. Total claims being investigated under the two policies exceed $55 million.
- Acted for a trader in an SIAC arbitration in a $14 million claim against a Chinese conglomerate arising from several copper trades.
- Advising the largest secured lender in relation to court ordered restructuring of InterChem Pte Ltd, a petrochemicals trading company with debts exceeding $300 million including improving the payment terms offered to the lender over the course of the restructuring process.
- Advising a lender in relation to a failed restructuring attempt of Somap International Pte Ltd, a ship recycling company with debts exceeding $170 million, and then in the liquidation proceedings. Successfully acted for a lender in very heavily bankruptcy proceedings against the director of Somap International Pte Ltd, entailing a number of interim challenges and appeals. Coordinated London litigation, including proceedings for a worldwide freezing order.
- Acting for a corporate user against a cryptocurrency exchange platform in an SIAC arbitration seeking reversal of aberrant orders with values fluctuating as much as 10,000% within a minute, and negotiating a favourable settlement.
- Acted for a Bangladesh steel conglomerate in SIAC arbitrations in relation to termination of international sale contracts involving claims of $5 million.
- Acted for a trader in enforcing a US$ 4 million payment under letters of credit issued by a Bangladeshi bank. Successfully advised on settlement.
- Acted for a commodities trader in a London arbitration for claims in relation to double financing of cotton trades.
- Advising and defending a trader in a HKIAC arbitration by shipowners whilst bringing a separate SIAC arbitration claim against the receiver for various breaches in taking timely delivery.
- Advising and acting in LMAA arbitrations in relation to disputes concerning unsafe berth, and unclean vessel tanks and termination of a charterparty.
- Acted for a lender in the Singapore High Court against an insurance broking firm for negligence.
- Advising a lender in a misdelivery claim against freight forwarders and carriers of cargo, including working with English lawyers to bring a claim for the same in the English High Court which culminated in a favourable judgment.
- Advising traders and lenders on structuring prepayment deals and loan facilities.
Publications
- Euronav legal victory over UniCredit tames ‘almighty’ power of bills of lading, lawyers claim, TradeWinds, June 2023
- Misdelivery – Are BLs good security anymore? Manifold Times, June 2023
- Researched and co-edited six chapters of Law and Practice of Construction Contracts (5th Ed, 2018, Sweet & Maxwell), a leading textbook on construction law in Singapore (May 2017 – Jan 2018)
- Assistant Editor, Singapore Arbitration Journal (2019 – Present).
- Can Directors Rely on their Companies’ Arbitration Agreements? Kluwer Arbitration Blog.
- Due Diligence and Time of the Essence in Construction Contracts – Can they be implied? Society of Construction Law (Singapore) Newsletter (Jan 2018).
- Justice in Adjudication: Rough, Ready and “Natural”. Apparent Bias in Construction Adjudication. Society of Construction Law (Singapore) Newsletter (Sep 2017).
- Anti-suit Injunctions in Favour of Arbitration – A Permanent Fixture in Singapore? Singapore Institute of Arbitrators Newsletter (Jun 2017)
- Articles
- January 2025
Actual physical sale and shipment of goods: the touchstone of trade credit insurance claims
- Videos
- September 2024
Webinar: THE LAW SHOULD CALL A FRAUD, A FRAUD: LETTERS OF CREDIT & FRAUD
- Events
- August 2024
BG 5th Anniversary Party Photos
Poonaam Bai
Poonaam Bai id dual qualified in Singapore and England, with more than 15 years international experience including working from a UK law firm.
Poonaam started off her career as a shipping & international trade disputes lawyer. She has represented and advised ship owners, cargo interests, insurers and crew in a wide range of shipping and commodity disputes. Her practice has now extended into commercial disputes with an emphasis on insurance, construction and shareholder disputes .
The matters she has handled include front end drafting and advice and construction disputes in litigation, arbitration and statutory adjudication. She has acted for developers, owners, contractors and sub-contracts for major construction works disputes, including calls on performance bonds, delays, defects and liabilities.
She has also handled a range of insurance related matters, including Construction Professional Indemnity, Contractors’ All Risks, Marine Insurance, Hull & Machinery, Property Insurance, Trade Credit, Material & Business Interruption etc.
Poonaam is also an accredited mediator under various mediation bodies in Singapore.
Poonaam Bai
Poonaam Bai id dual qualified in Singapore and England, with more than 15 years international experience including working from a UK law firm.
Poonaam started off her career as a shipping & international trade disputes lawyer. She has represented and advised ship owners, cargo interests, insurers and crew in a wide range of shipping and commodity disputes. Her practice has now extended into commercial disputes with an emphasis on insurance, construction and shareholder disputes .
The matters she has handled include front end drafting and advice and construction disputes in litigation, arbitration and statutory adjudication. She has acted for developers, owners, contractors and sub-contracts for major construction works disputes, including calls on performance bonds, delays, defects and liabilities.
She has also handled a range of insurance related matters, including Construction Professional Indemnity, Contractors’ All Risks, Marine Insurance, Hull & Machinery, Property Insurance, Trade Credit, Material & Business Interruption etc.
Poonaam is also an accredited mediator under various mediation bodies in Singapore.
Recent Engagements
- Lee Wee Lick Terence (alias Li Weili Terence) v Chua Say Eng (formerly trading as WengFatt Construction Engineering) [2013] 1 SRL 401 (COA)
- Australian Timber Products Pte Ltd v A Pacific Construction & Development Pte Ltd [2013] 2 SLR 776 (HC)
- Mansource Interior Pte Ltd v Citiwall Safety Glass Pte Ltd [2014] 3 SLR 264 (COA)
- Quanta Industries Pte Ltd v Strategic Construction Pte Ltd [2015] SGHC 2 (HC)
- Audi Construction Pte Ltd v Kian Hiap Constructions Pte Ltd [2018] SGCA 4 (COA)
- Milan International Pte Ltd v Cluny Development Pte Ltd and others [2018] SGHC 33
- Mansource Interior Pte Ltd v CSG Group Pte Ltd [2017] 2 SLR 776
- Articles
- January 2025
Actual physical sale and shipment of goods: the touchstone of trade credit insurance claims
- Videos
- September 2024
Webinar: THE LAW SHOULD CALL A FRAUD, A FRAUD: LETTERS OF CREDIT & FRAUD
- Events
- August 2024