Billionaire son of ‘world’s richest banker’ challenges $35mn legal fees | FT #shorts
A Brazilian billionaire has won a review of more than $35mn in legal fees charged by US law firm WilmerHale, in a ruling that lays bare the high hourly rates of Big Law.
In a judgment published on Wednesday, London’s High Court granted Alberto Safra, the son of Joseph Safra — once the ‘world’s richest banker’ — a full assessment of WilmerHale’s costs, which ran to more than $162,000 on one day in 2023 alone.
The dispute highlights the ever-increasing hourly rates of the world’s biggest law firms, as well as the high number of hours lawyers at such firms work, the FT’s Suzi Ring explains.
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