Legal and consulting firms servicing the collapsed FTX issued a combined bill of $103 million for the first quarter of 2023. This is stated in court documents.
Sullivan & Cromwell, Alvarez & Marshal, AlixPartners, Quinn Emmanuel Urquhart & Sullivan and Landis Rath & Cobb requested $36.4 million for their services in March. In January, this amount was $34.2 million, and in February – $32.5 million.
New York-based law firm Sullivan & Cromwell received the largest payouts of $14.1 million in March and $44.4 million in total in the first three months of 2023.
The consulting company Alvarez & Marsal was next. In March, the firm billed $13.8 million for tens of thousands of hours employees devoted to financial analysis and accounting procedures.
Lawyers Quinn Emmanuel Urquhart & Sullivan and Landis Rath & Cobb requested $3.19 million and $644,000 respectively in March for a total of $7.3 million and $1.9 million for the first quarter.
In turn, the consulting company AlixPartners received $4.51 million from the company in March and $10.2 million in the first quarter of the year. The firm was engaged in the analysis of DeFi products and tokens held by FTX.
Recall that in July, the exchange’s lawyers will publish a reorganization plan with the possible resumption of the trading platform.
According to a presentation to the court in March, FTX’s combined asset shortfall to cover customer claims was $8.7 billion, and $1.6 billion in Bitcoin.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
Legal and consulting firms servicing the collapsed FTX issued a combined bill of $103 million for the first quarter of 2023. This is stated in court documents.
Sullivan & Cromwell, Alvarez & Marshal, AlixPartners, Quinn Emmanuel Urquhart & Sullivan and Landis Rath & Cobb requested $36.4 million for their services in March. In January, this amount was $34.2 million, and in February – $32.5 million.
New York-based law firm Sullivan & Cromwell received the largest payouts of $14.1 million in March and $44.4 million in total in the first three months of 2023.
The consulting company Alvarez & Marsal was next. In March, the firm billed $13.8 million for tens of thousands of hours employees devoted to financial analysis and accounting procedures.
Lawyers Quinn Emmanuel Urquhart & Sullivan and Landis Rath & Cobb requested $3.19 million and $644,000 respectively in March for a total of $7.3 million and $1.9 million for the first quarter.
In turn, the consulting company AlixPartners received $4.51 million from the company in March and $10.2 million in the first quarter of the year. The firm was engaged in the analysis of DeFi products and tokens held by FTX.
Recall that in July, the exchange’s lawyers will publish a reorganization plan with the possible resumption of the trading platform.
According to a presentation to the court in March, FTX’s combined asset shortfall to cover customer claims was $8.7 billion, and $1.6 billion in Bitcoin.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
