Biography

Derek Lai is the Vice Chair of Deloitte China and also the Deloitte Global Contingency Planning and Insolvency Leader.  He was the Managing Partner of Deloitte China Southern Region, National Functional Leader of Deloitte China Financial Advisory, and was a two-term Board Member of Deloitte China.

Derek has been instrumental in nurturing and developing Deloitte China's Restructuring and Insolvency practice.  Under his visionary leadership, the team has grown from less than 20 practitioners to over 300 practitioners, and is now a larger team than any of its competitors in China.

Derek has specialized in corporate restructuring and insolvency in Hong Kong and Mainland China for over 30 years.  He has worked on liquidation,  receivership, and corporate restructuring engagements (including schemes of arrangement) involving companies incorporated in Hong Kong, Mainland China and various international jurisdictions, including the British Virgin Islands, Cayman Islands, Cook Islands, Jersey, and the United Kingdom.

Derek is experienced in formal restructurings and informal workouts.  He has acted in numerous high profile cases, including the receivership of the Baha Mar resort in the Caribbean, which was one of the largest corporate insolvency engagements in Deloitte. 

Derek has acted as provisional liquidator of numerous companies listed on the Hong Kong Stock Exchange that had business operations in mainland China. He has been successful in obtaining the relisting of shares of companies listed on the Hong Kong Stock Exchange, which had been suspended from trading due to financial difficulties and/or suspected irregularities.

Derek has a successful track record of disposing of interests in Mainland China-related joint ventures / businesses and assets.  He has advised numerous clients on appropriate exit strategies for their Chinese investments, so as to maximize returns and minimize adverse consequences from such exits.  Derek has also served on various liquidation committees established under the Bankruptcy law in Mainland China.