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Crypto lender Voyager Digital’s <a href="https://cases.stretto.com/public/x193/11753/PLEADINGS/1175306282380000000008.pdf" rel="noopener noreferrer nofollow">reported</a> legal fees payable to law firm Kirkland &amp; Ellis LLP (K&amp;E) against its bankruptcy case totaled $1.1 million in April. A couple of partners of the law firm have been reported to have charged over $2,000 for an hour of work on the case, while others billed hundreds of thousands of dollars in fees in April.While Kirkland &amp; Ellis’ litigation partner George W. Hicks Jr., P.C. billed $153,211 in fees for 87.8 hours worked, the law firm’s associate Nicholas Adzima billed 118 hours for $147,906 in compensation for April.K&amp;E has sought reimbursements from Voyager to the tune of 80% ($1,128,312.40) of the $1,410,390.50 incurred in total fees. The hourly billing rate of attorneys reported for all services offered during the Fee Period is $1,313.18, whereas that for all paraprofessionals is $384.31.Some of Kirkland &amp; Ellis’ former clients include the bankrupt crypto lender Celsius, and the digital asset lender <a href="https://www.law.com/americanlawyer/2022/11/28/blockfi-turns-to-familiar-name-for-crypto-bankruptcies-kirkland-ellis/" rel="noopener noreferrer nofollow">BlockFi</a>. The 2022 crypto bear market led to various bankruptcies, leading to a <a href="https://news.bloomberglaw.com/business-and-practice/big-laws-baby-lawyers-rack-up-fees-on-ftx-bankruptcy-case" rel="noopener noreferrer nofollow">law firms’ bull market</a>. Notably, the bankruptcy fees of the defunct crypto exchange FTX have reportedly peaked at <a href="https://www.crainsnewyork.com/finance/ftxs-legal-and-financial-advisors-collect-remarkable-200m-fees#:~:text&#61;New%20York%20firms%20collect%20a,in%20fees%20from%20FTX%20collapse&amp;text&#61;Manhattan%2Dbased%20legal%20and%20financial,found%2C%20with%20more%20to%20come." rel="noopener noreferrer nofollow">$200 million</a>, while that of Celsius stood at <a href="https://www.bloomberg.com/news/articles/2022-12-16/bankrupt-celsius-advisers-lawyers-seek-52-million-in-fees?sref&#61;3REHEaVI#xj4y7vzkg" rel="noopener noreferrer nofollow">$50 million</a>.Read full article at <a href="https://cryptotale.org/voyager-digitals-bankruptcy-cases-legal-fees-for-april-totals-1-1m/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Voyager Digital’s Bankruptcy Case’s Legal Fees for April Totals $1.1M

CryptoTale

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