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Voyager to Pay $1.1M Legal Fees for April

Voyager to Pay $1.1M Legal Fees for April

CoindeskCoindesk2023/06/28 05:47
By:Sam Reynolds

Some of the firm’s attorneys billed Voyager upwards of $150,000 for their work during the month.

Voyager's bankrupcy has left creditors in the lurch. (Danny Nelson/CoinDesk)

Law firm Kirkland Ellis for the work done on the in April.

Some of the firm’s highest-paid partners are charging upwards of $2,000 an hour for their work on the case, while some billed hundreds of thousands of dollars in fees for the month.

George W. Hicks Jr., P.C, one of Kirkland Ellis’ litigation partners, billed $153,211 in fees across 87.8 hours of work, while Nicholas Adzima, an associate, billed 118 hours and totaled $147,906 in compensation for the month.

Kirkland Ellis is one of the world’s largest law firms, . It’s representing a number of crypto companies in restructuring that fell into Chapter 11 during the bear market of 2022, including Celsius and .

The series of bankruptcies brought on by the 2022 bear market has been a . As CoinDesk previously reported, , while Celsius has already racked up over

Some critics have pointed out that the long processes and high legal fees mean that as the is eaten up by attorney fees.

Voyager bankruptcy claims are currently trading at 40 cents on the dollar on , a bankruptcy claim trading marketplace, while FTX is trading at 28.25 cents, and Celsius at 28.5 cents.

Edited by Parikshit Mishra.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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