FTX lawyers and advisors have collected more than $500 million in fees so far in bankruptcy proceedings
As bankruptcy costs continue to rise, FTX lawyers and advisors have approved over $500 million in fees from bankruptcy assets. It is reported that the institution responsible for overseeing the bankruptcy process has requested payment of over $700 million in fees and expenses, although many requests have been reduced by 20% and some requests have not yet been approved. According to court documents, Sullivan and Cromwell, FTX's special advisor in the bankruptcy case, topped the list with approved fees of $254 million (although their bill amount was $360 million), followed closely by financial advisor Alvarez and Marsal with approved fees of $133 million. Other law firms and advisors include legal investigation advisor AlixPartners, special advisor Quinn Emanuel Urquhart & Sullivan, investment banker Perella Weinberg Partners, and joint advisor Landis Rath & Cobb, who together charged $57 million in fees.
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