Law firm sullcrom billed $7.5 million for its first 19 days working on FTX_Official's bankruptcy case. jackschickler reports.
The firm – whose appointment raised qualms from U.S lawmakers as well as the executive branch and FTX founder Sam Bankman-Fried – had more than 150 staff working on filings, investigating hacks and reestablishing corporate governance arrangements for a network of over 100 entities.
“The services performed by S&C during the Fee Period represent one of the most complicated, multi-disciplinary exercises by any law firm in any area of law,” said the filing, which covers fees and expenses from Nov. 12 to Nov. 30. A total of over 6,500 hours were worked by 32 partners, 85 associates and 34 non-legal staff, the filing said. Hourly rates are as high as $2,165. The company said charges for senior staff already represent a discount, and the firm is seeking payment of only 80% of a $9.5 million total.
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