Million

<ul>
 <li>Professional services related to forensic investigations were charged $13.3 million.</li>
 <li>The bankruptcy attorneys have charged a minimum of $118.1 million for 3 months.</li>
</ul>
New pay documentation reveals that in the three months ending October 31, the now-defunct cryptocurrency exchange <a href="https://thenewscrypto.com/ftx-debtors-to-evaluate-claims-using-petition-date-crypto-prices/" target="_blank" rel="noopener noreferrer nofollow">FTX</a> spent around $53,000 per hour on bankruptcy attorneys and advisors.
The bankruptcy attorneys have charged a minimum of $118.1 million from August 1st to October 31st, according to court documents filed between December 5th and 16th. The total for all 92 days is $1.3 million, or $53,300 an hour.&nbsp;
Alvarez and Marshall, a management consulting company, racked up the most expenses at $35.8 million over the duration of the above-mentioned time frame. Furthermore, <a href="https://www.sullcrom.com/" target="_blank" rel="noopener noreferrer nofollow">Sullivan &amp; Cromwell</a>, an international law firm, came in second, with fees of $31.8 million. On average, Sullivan &amp; Cromwell charged $1,230 per hour for their services.
Moreover, professional services related to forensic investigations were charged $13.3 million over the year by global consulting company AlixPartners. During the same time period, a number of smaller advising firms racked up over $26.8 million in billings, with Quinn Emanuel Urquhart &amp; Sullivan accounting for $10.4 million.
<h3 class="wp-block-heading" id="h-discrepancies-reported">Discrepancies Reported</h3>
Sullivan &amp; Cromwell, <a href="https://www.alvarezandmarsal.com/" target="_blank" rel="noopener noreferrer nofollow">Alvarez &amp; Marshall</a>, and other bigger advising firms submitted billings between May 1 and June 31. And an earlier report issued on Dec. 5 by court-appointed fee examiner Katherine Stadler highlighted “significant areas of concern” with these billings.
The report mentioned:
<blockquote class="wp-block-quote">
 “The Fee Examiner identified apparently top-heavy staffing, apparently excessive meeting attendance, fees related to non-working travel time, and various technical and procedural deficiencies with respect to some time entries (including vague and lumped entries).”
</blockquote>
The entire amount of legal expenses that have been paid since the bankruptcy lawsuit against <a href="https://thenewscrypto.com/judge-prioritizes-customer-recovery-amid-irs-dispute-in-ftx-case/" target="_blank" rel="noopener noreferrer nofollow">FTX</a> started is over $350 million, according to figures given by an anonymous FTX creditor in a post on Twitter on December 17th.
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FTX Bankruptcy Legal Expenses Reportedly Climbs Over $350 Million

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TheNewsCrypto

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