Lawsuit costs for bankrupt cryptocurrency lender Celsius are skyrocketing.
According to what is newly available informationthe fees earned by Celsius’ attorneys and advisors are now on track to total more than $140 million.
@CamCrews posted the link Google Docs Detailed legal fees show that one of Celsius’ attorneys, Kirkland Ellis, is expected to make $48.8 million on $31.7 million in charges by December 2022.
White & Case, on the other hand, is projected to make $28 million and will be billed $20.9 million by January. The third-largest law firm by revenue is Alvarez & Marsal, with an expected cost of $15.7 million, and by January he was charged $11.8 million.
Beyond the Celsius case, such high numbers highlight the sizeable sums involved in legal proceedings related to fraud cases. While it’s essential that legal professionals are compensated for their services, high fees can create additional difficulties for fraud victims who may already be suffering financial losses.
Read more: Celsius prepares to resume partial withdrawals for eligible users
But in the United States, the legal system is designed to balance the needs of all parties involved and ensure justice is served. I doubly feel that way.
In the case of FTX, Sam Bankman-Fried (SBF) recently petitioned the court to allow premiums to cover what the court estimated to be nine figures. To see the resolution, not the year.
READ MORE: Former FTX CEO Sam Bankman-Fried seeks insurance coverage for legal costs
Posts of Celsius attorneys and advisors on track to earn more than $140 million in fees first appeared on CryptoSlate.