FTX’s chief restructuring officer John J. Ray III charges $1300 an hour — and he’s one of the more affordable people involved in FTX’s lawyer’s picnic.
on Jan. 17 arguing that Sullivan & Cromwell had been integral in taking control over the “dumpster fire” that was handed to him.to the retention of the law firm on Jan. 14 by U.S. Trustee Andrew Vara, who claimed that Sullivan & Cromwell had failed to sufficiently disclose its connections and prior work for FTX.
FTX’s special counsel Landis Rath & Cobb spent much of its working hours attending court hearings and litigation procedures. For its efforts, the firm billed the FTX administrators $684,000 including expenses. Between the three law firms, over 180 lawyers and over 50 non-lawyer staff worked on the case, most of who came from Sullivan & Cromwell.$2.1 million for January. Almost half of the firm’s hours were spent on forensic analysis of decentralized finance products and tokens in FTX’s possession.for $12.5 million for over 17,100 hours it committed to avoidance actions, financial analysis and accounting procedures.
A breakdown of Alvarez & Marsal’s monthly fee statement by project, hours and fees for the month of January: Source:
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