FTX Bankruptcy Legal Fees Top $100 Million in Just 3 Months
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FTX has spent over $118 million on legal and advisory fees from August to October, equal to $53,000 per hour or $1.3 million per day.
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The largest bill was from Alvarez and Marshall at $35.8 million, followed by Sullivan & Cromwell at $31.8 million ($1,230 per hour).
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AlixPartners charged $13.3 million for forensic investigations, while Quinn Emanuel billed $10.4 million.
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An estimated $350 million in legal fees have been fully paid since the FTX bankruptcy began.
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The fee examiner identified issues like top-heavy staffing, excessive meetings, and vague time entries in the bills submitted by firms like Alvarez & Marshall.