Billionaire son of ‘world’s richest banker’ challenges $35mn authorized charges | FT #shorts
A Brazilian billionaire has gained a evaluate of greater than $35mn in authorized charges charged by US regulation agency WilmerHale, in a ruling that lays naked the excessive hourly charges of Big Law.
In a judgment revealed on Wednesday, London’s High Court granted Alberto Safra, the son of Joseph Safra — as soon as the ‘world’s richest banker’ — a full evaluation of WilmerHale’s prices, which ran to greater than $162,000 on sooner or later in 2023 alone.
The dispute highlights the ever-increasing hourly charges of the world’s largest regulation corporations, in addition to the excessive variety of hours legal professionals at such corporations work, the FT’s Suzi Ring explains.
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