Celsius case ‘administrative expenses’ add up to $53M

Hull Invest

Lawyers, advisers and bankers involved in the Celsius bankruptcy case collectively earned $53 million in administrative fees in four months, according to the report. financial times.

Of the five Celsius advisors, Kirkland & Ellis received the highest bill of $20.1 million. The company is Celsius and he provided services for $166,000 per day for 212 days.

Meanwhile, White & Case’s services as an unsecured creditor’s committee advisor are the most expensive of the other four firms. The company participated in his lawsuit for 94 days, charging him $109,000 and earning him $10.2 million per day.

Attorney's Fees in Celsius Case
Attorney’s Fees in Celsius Case

Finally, Jenner & Block made significantly more money for their services as advisors to examiners compared to Huron Consulting. For $59,000 per day, Jenner and Bullock helped him with the case for 32 days, bringing the total to $1.9 million.

On July 14, 2022, cryptocurrency lender Celsius declared bankruptcy. One of his companies affected by the ramifications of Terra Luna’s crash, Celsius paid Aave, Compound, and Maker his DeFi loans, leading to the company’s bankruptcy.

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