More than $200 million in legal fees have been charged by the law firms in charge of restructuring FTX_Official post-bankruptcy and a court-appointed examiner says the case could be “very expensive.”
Stadler confirmed the team working on FTX had “requested more than $200 million in fees” since its November bankruptcy, adding:
“Notwithstanding the relative scope of the known asset pool, these proceedings appear on track to be very expensive by any measure.” She gave a glowing review of the FTX restructuring team saying she was “struck” by those who “sprung into action” to “begin transforming a smoldering heap of wreckage.”“Very few firms could have accomplished what these professionals accomplished in 90 days,” Stadler added.It said hourly rates for the 242 lawyers on the case ranged from $388 to $2,165 and 46 lawyers were on more than $2,000 an hour.
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