Heidi Li

Of Counsel


Hong Kong SAR

Heidi focuses on international commercial arbitration and litigation for corporations, financial institutions and high net worth individuals.

She has extensive experience in handling financial and commercial disputes relating to joint ventures, post M&A matters, banking and shareholder disputes, debt and asset recovery, and financial product and service mis-selling. She is experienced in acting in cross-border arbitrations under major institutional rules, including HKIAC, SIAC and UNCITRAL Rules, and involving various jurisdictions including, in particular, Hong Kong and Mainland China.

Heidi is qualified as a solicitor in Hong Kong and speaks English, Cantonese and Mandarin.



Representative matters

A Chinese bank in defending Hong Kong Court proceedings brought by an insolvent medical device business and its liquidators.

Chinese banks in a SIAC arbitration against South East Asian companies in relation to a dispute arising out of a financing of a major infrastructure project in Bangladesh.

A global asset management firm in a HKIAC arbitration against a seller in relation to a dispute over a proposed acquisition of a real estate development project in China.

A global private bank in defending Hong Kong Court proceedings brought by customers in respect of discretionary hedge fund investment services provided by the bank.

A large pension fund in South East Asia in a dispute against a Hong Kong-incorporated issuer in the e-commerce industry in relation to a dispute arising out of a convertible note.

A subsidiary of a Hong Kong listed company in a joint venture shareholder dispute against a director involving breach of director's duties claims.

Independent administrators appointed over an intestate estate on various issues, including issues about the identification of the beneficiaries of the estate.

An international investment bank in two HKIAC arbitrations, one against a Hong Kong company for an outstanding amount in respect of derivative trades under the 2002 ISDA Agreement and another against the company’s PRC parent under a guarantee.

An e-commerce platform in an investigation by the Hong Kong Competition Commission in relation to potential anti-competitive conduct.

A global bank on the recovery of over USD40 million debts owed to it by a corporate group and affiliated individuals with presence in Hong Kong SAR, Mainland China and the BVI.

An APAC-based private equity fund on a multi-jurisdictional debt enforcement of two facilities totalling more than USD200 million granted to a BVI-incorporated company and a Hong Kong-incorporated company.

A Chinese company in two HKIAC arbitrations against a US investment firm in relation to a shareholders dispute in the media and entertainment industry.

An international bank in an investigation by the Hong Kong Competition Commission in relation to potential anti-competitive conduct.

An international bank on a dispute arising from its sale of a sub-participation interest in distressed debt.

The liquidators of a Hong Kong engineering and renewable energy company on the realisation, recovery and preservation of the assets of the company in liquidation.

A global bank on the recovery of over HKD300 million of debts under a series of securities facilities from various individual debtors with presence in Hong Kong SAR, Mainland China and the BVI.

A European corporate in applying for a freezing injunction and ancillary orders in Hong Kong to recover funds transferred out as a result of fraudulent instructions.

A global bank in defending mis-selling proceedings brought by a customer.

A political individual in proceedings concerning a dispute under a joint venture agreement and related committal proceedings.

Pro bono

Advising an Indonesian domestic worker in relation to certain illegal agency and money-lending practices by parties across Hong Kong and Indonesia.



Admitted as a solicitor (Hong Kong), 2014


Bachelor of Laws (Hons), University College London, 2011

PCLL (Distinction), The University of Hong Kong, 2012


Chinese (Cantonese), English
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.