1 year ago
Lawyers, advisers, and bankers progressive successful the Celsius bankruptcy lawsuit collectively earned $53 cardinal arsenic administrative expenses successful 4 months, arsenic reported by the Financial Times.
Among Celsius’ 5 advisors, Kirkland & Ellis was billed the astir important magnitude astatine $20.1 million. The institution served Celsius for 212 days for $166,000 per day.
On the different hand, White & Case’s services arsenic advisors to unsecured creditors committees outgo the astir costly among the different 4 companies. The institution earned $10.2 cardinal by participating successful the lawsuit for 94 days, charging $109,000 daily.
Legal fees for the Celsius caseFinally, Jenner & Block made a considerably larger sum for its services arsenic the advisors to the examiner compared to Huron Consulting. With a $59,000 complaint per day, Jenner & Block assisted the lawsuit for 32 days, making a full sum of $1.9 million.
Crypto lender Celsius declared bankruptcy connected July 14, 2022. Being 1 of the companies that were affected by the ripple effect of the Terra-Luna crash, Celsius paid its DeFi loans to Aave, Compound, and Maker, which led to the firm’s bankruptcy.
The station Celsius lawsuit ‘administrative expenses’ adhd up to $53M appeared archetypal connected CryptoSlate.
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