Lawyers picnic: FTX counsel and advisors rake in $34M in January

Lawyers picnic: FTX counsel and advisors rake in $34M in January

The law firms, investment banks and consulting companies working with FTX on its bankruptcy case billed the crypto exchange a combined $34.18 million in January, court documents reveal.

FTX’s chief restructuring officer and new CEO, John J. Ray III, also received a hefty pay package, charging $1,300 an hour to a total of $305,000 in February according to a Mar. 6 filing.

Fee breakdown of FTX CEO John J. Ray III over the month of February. Source: Kroll

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Separate court filings on Mar. 6 show United States law firms Sullivan & Cromwell, Quinn Emmanuel Urquhart & Sullivan and Landis Rath & Cobb invoiced $16.9 million, $1.44 million and $684,000 respectively for their services and expenses in January.

Lawyers and staff of Sullivan & Cromwell billed a total of 14,569

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