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Brazilian Billionaire Challenges $35M Legal Fees Amid High Law Firm Rates

Financial Times Companies •
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Alberto Safra, son of Brazil’s late “world’s richest banker,” has secured a court review of $35.3mn in legal bills from US firm WilmerHale, exposing sky-high hourly rates in complex inheritance disputes. London’s High Court ruled on Wednesday to reassess WilmerHale’s invoices, which included staggering daily charges of over $162,000 in 2023 alone. Judge Colum Charles Leonard criticized the firm’s lack of transparency, calling the fees “extremely high” and “outside any ‘run of the mill’ case.”

WilmerHale, which quoted partner rates as high as $2,100 an hour when Safra first hired them in 2022, billed extensively for travel and accommodation. The judge noted a single invoice exceeding $11,000 for a partner’s business-class flight between New York and London. The case centers on Safra’s multibillion-dollar estate feud with family members over his father Joseph Safra’s $23bn empire, involving five arbitrations that were eventually settled. Quinn Emanuel, another top litigation firm, also represented Safra with similarly steep rates, per the ruling.

The dispute underscores a broader trend of escalating legal costs driven by rising interest rates and global dealmaking activity. US firms have increasingly priced themselves at $3,000+ per hour, pressuring international competitors. Safra’s case highlights risks for high-net-worth clients navigating cross-border litigation, where opaque billing practices and inflated expenses can dwarf settlement amounts. WilmerHale did not respond to requests for comment.

This ruling may set a precedent for scrutinizing law firm invoices in high-stakes family office disputes. For investors and business leaders, it signals growing scrutiny of corporate legal spending and the need for cost transparency in complex global inheritance battles.