UK Resets Caps for Permitted Legal Fees Under Russia Sanctions
The U.K. issued a new version of a Russia-related legal services general license to reset the cap on fees that can be paid to British law firms by parties subject to Russia-related sanctions. The legal fees cap is set at…
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about $2.68 million (or 2 million pounds) per law firm and the expenses cap at 10% of the legal fees, up to about $268,000 (or 200,000 pounds), for the duration of the license. The license takes effect April 29 and expires Oct. 28. The previous license expired April 28 (see 2410290017).