HomeUncategorizedLawyers picnic: FTX counsel and advisors rake in $34M in January By Cointelegraph

Lawyers picnic: FTX counsel and advisors rake in $34M in January By Cointelegraph

March 8, 2023

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© Reuters.

The law firms, investment banks and consulting companies working with FTX on its bankruptcy case billed the crypto exchange a combined $34.18 million in January, court documents reveal.

FTX’s chief restructuring officer and new CEO, John J. Ray III, also received a hefty pay package, charging $1,300 an hour to a total of $305,000 in February according to a Mar. 6 filing.

Fee breakdown of FTX CEO John J. Ray III over the month of February. Source: Kroll
Sullivan & Cromwell’s fee statement as counsel to FTX Trading for the month of January. Source: Kroll
A breakdown of Alvarez & Marsal’s monthly fee statement by project, hours and fees for the month of January: Source: Kroll