Am Law 50 firms Kirkland & Ellis, White & Case and Quinn Emanuel Urquhart & Sullivan are charging multimillion-dollar legal fees for representing parties in the Chapter 11 bankruptcies of cryptocurrency trading platforms Voyager and Celsius, with some partner hourly rates ranging as high as $2,130.
As law firms gather around the recently filed bankruptcy of FTX and BlockFi, fee statements in the Voyager and Celsius bankruptcies provide an insight into how much the wealthiest law firms in the world stand to gain in the restructuring of troubled crypto businesses. Both trading platforms filed for bankruptcy in July.
Shepherding both bankruptcies is Kirkland & Ellis. Since July, Kirkland has applied for compensation and expense reimbursements totaling $6.5 million for its representation of Voyager Digital Holdings Inc. and $7.1 million for its work for Celsius Network.
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