Hong Kong Judge Slashes Linklaters Fee Request
The successful litigant usually pays the difference when courts slash fees in cost orders, and the gap has become a point of controversy in Hong Kong legal circles. In an April 2013 note, Hong Kong Law Society President Dieter Yih, a partner at Milbank, Tweed, Hadley & McCloy said the difference generally ranged from 15 to 50 percent, making the 77 percent shortfall in the KPMG case unusually large.
Ironically, KPMG recently conducted a study for the law society recommending that the scale rates used by judges be increased by an average of 55 percent. The rates were last revised in 1997 and lawyers argue that the costs of maintaining a legal practice in Hong Kong have increased considerably since then.