FTX lawyers’ fees total nearly $20 million

Lawyers involved in the bankruptcy proceedings of the cryptocurrency exchange FTX have valued their services at roughly $20 million. This is evidenced by the заявки filed by various firms.

The largest request came from Sullivan & Cromwell — $9.5 million for work from November 12 to November 30, 2022, and a further $105,000 for other expenses.

Earlier, several U.S. government officials and former FTX head Sam Bankman-Fried expressed concerns about working with Sullivan & Cromwell, CoinDesk reports.

The consulting firm Alvarez & Marsal billed $6.2 million for work from November 11 to 30. Additionally, it seeks $180,000 in expenses.

Quinn Emanuel Urquhart & Sullivan billed FTX $1.5 million for more than a thousand hours of work from November 11 to December 31. The law firm Landis Rath & Cobb seeks $1.2 million for the same period. The consulting firm AlixPartners valued its work from November 28 to December 31 at $1.1 million.

All of the listed firms are willing to accept 80% of the total amounts stated in the filings.

Earlier it was reported that John Ray earned $690,000 for two months as the new CEO of FTX.