FTX lawyers and advisors charged over $500 million in bankruptcy process so far | Headlines | News | CoinMarketCap
05/30/2024 23:47
FTX lawyers and advisors have seen over $500 million in fees approved from the estate as the bankruptcy costs keep rising. In all, those overseeing …
FTX lawyers and advisors have seen over $500 million in fees approved from the estate as the bankruptcy costs keep rising.
In all, those overseeing the bankruptcy process have asked for more than $700 million in fees and expenses, although many of the requests have been cut back by 20%, and some have not yet been approved.
The FTX estate’s special counsel, Sullivan and Cromwell, tops the list, with $254 million of approved fees (although it billed for $360 million), according to court filings. Financial advisor Alvarez and Marsel comes in behind with $133 million in approved fees.
Other law firms and advisors include forensic investigative consultants AlixPartners, special counsel Quinn Emanuel Urquhart & Sullivan, investment banker Perella Weinberg Partners and co-counsel Landis …