{"id":78223,"date":"2023-05-03T14:39:06","date_gmt":"2023-05-03T11:39:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78223"},"modified":"2025-09-11T03:48:35","modified_gmt":"2025-09-11T00:48:35","slug":"ftx-advisers-and-lawyers-bill-103m-for-q1","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ftx-advisers-and-lawyers-bill-103m-for-q1\/","title":{"rendered":"FTX advisers and lawyers bill $103m for Q1"},"content":{"rendered":"

The legal and consulting firms servicing collapsed FTX<\/a> billed a total of $103 million for the first quarter of 2023. This is according to \u0441\u0443\u0434\u0435\u0431\u043d\u044b\u0445 \u0434\u043e\u043a\u0443\u043c\u0435\u043d\u0442\u0430\u0445<\/a>.<\/p>\n

Firms Sullivan & Cromwell, Alvarez & Marshal, AlixPartners, Quinn Emmanuel Urquhart & Sullivan and Landis Rath & Cobb billed $36.4 million for their services in March. In January this amount was $34.2 million, and in February \u2014 $32.5 million<\/a>.<\/p>\n

The New York-based law firm Sullivan & Cromwell received the largest payments, at $14.1 million for March and $44.4 million in total for the first three months of 2023.<\/p>\n

\\\"sallivan\\\"
Invoice from Sullivan & Cromwell for March. Data: Kroll<\/a>.
<\/figcaption><\/figure>\n

Next came the consulting firm Alvarez & Marsal. In March the firm billed $13.8 million for tens of thousands of hours that employees devoted to financial analysis and accounting procedures.<\/p>\n

\\\"alvarez\\\"
Alvarez & Marsal invoice for March. Data: Kroll<\/a>.
<\/figcaption><\/figure>\n

Lawyers Quinn Emmanuel Urquhart & Sullivan and Landis Rath & Cobb in March billed $3.19 million and $0.644 million respectively, and in total for the first quarter \u2014 $7.3 million and $1.9 million.<\/p>\n

In turn, the consulting firm AlixPartners received $4.51 million in March and $10.2 million for the first quarter. The firm was analysing DeFi products and tokens held by FTX.<\/p>\n

In July, the exchange’s lawyers will unveil a plan for reorganisation<\/a> with a possible resumption of trading on the platform.<\/p>\n

According to the court presentation filed in March, the aggregate shortfall of FTX assets to cover client claims stood at $8.7 billion<\/a>, in Bitcoin \u2014 $1.6 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

The legal and consulting firms servicing collapsed FTX billed a total of $103 million for the first quarter of 2023.<\/p>\n","protected":false},"author":1,"featured_media":78224,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1236,1375],"class_list":["post-78223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ftx","tag-lawyers"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=78223"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78223\/revisions"}],"predecessor-version":[{"id":78225,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78223\/revisions\/78225"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/78224"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=78223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=78223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=78223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}