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Hourly Billing in FTX Bankruptcy Already At Historically High Level

By Ellen Bardash
April 01, 2023

Attorneys and consultants involved in the FTX bankruptcy have asked the District of Delaware bankruptcy court to approve billed hours and expenses totaling just under $37 million for the first six weeks of Chapter 11 proceedings.

Those proposed fee applications, the last of which was filed Feb. 27, cover both the FTX debtor entities and the committee representing creditors, with the largest segment by far being the $25.1 million billed by FTX lead counsel Sullivan & Cromwell across two filings. See, https://bit.ly/42upM3Q; https://bit.ly/3ZfryTw. Those fees haven't been approved or denied and could end up differing from the amount attorneys actually are paid.

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