By Brazil Stock Guide – Brazilian banker Alberto Safra won the right in a London court to review more than $35 million in legal fees charged by U.S. law firm WilmerHale, in work related to a series of private arbitrations over his family’s estate, the Financial Times reported.
The legal work was linked to multiple arbitration proceedings involving the estate of Joseph Safra, who died in December 2020 and left behind a global empire spanning banking, real estate and agribusiness, valued at about $23 billion.
While details of the arbitration cases have not been made public, they stem from disputes over the structure, control and division of family assets following Safra’s death. Such proceedings are typically confidential and involve family members or related holding structures.
According to London’s High Court, Safra is entitled to a detailed assessment of WilmerHale’s fees for work carried out between 2022 and 2024. The disputes themselves have since been resolved, but the legal costs remain under scrutiny.
The court noted that the firm’s billing included charges exceeding $162,000 in a single day and hourly rates of up to $2,100, levels the judge described as “extremely high” and outside the norm. Expenses also included significant travel costs, such as more than $11,000 for a single trip.
Founded in the United States, WilmerHale is one of the world’s leading law firms, known for its work in complex litigation, arbitration and regulatory matters. The firm frequently advises multinational corporations, financial institutions and high-net-worth individuals in cross-border disputes.
The broader family dispute had previously spilled into public litigation. In 2023, Alberto Safra filed a lawsuit against his mother, Vicky Safra, and his brothers Jacob and David, alleging that his stake in the Safra National Bank holding structure had been deliberately diluted.
In July 2024, however, the Safra family announced it had reached an “amicable” agreement to resolve all disputes. According to a statement at the time, the parties agreed to terminate all ongoing legal and arbitration proceedings across jurisdictions, though financial terms were not disclosed.
Under the agreement, Alberto Safra said he would divest his interests in the J. Safra Group and pursue his own business activities through ASA, adding that he was “happy to leave this matter behind.” In a joint statement, Vicky Safra and her children said they were satisfied to move forward and reaffirm family ties.
The case highlights the rising cost of global legal services, with top U.S. law firms charging hourly rates that can approach $3,000, driven by increasingly complex cross-border disputes.
WilmerHale did not immediately respond to a request for comment, according to the report.
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