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The collectors of the bankrupt crypto agency, Voyager Digital, face a $5.1 million invoice. The New York regulation agency McDermott Will & Emery is in search of compensation for authorized providers supplied from March 1 to May 13, 2023, in line with a submitting on July 3.
The substantial bill was charged to the “Official Committee of Unsecured Creditors,” in any other case generally known as the collectors of Voyager Digital, with an hourly charge of $1,026.76, encompassing a variety of authorized duties. The regulation agency was engaged in quite a lot of roles, together with guiding the committee by way of chapter proceedings, negotiating with debtors and different events and managing the required paperwork:
This marks McDermott Will & Emery’s third and last bill, rounding up the whole claimed compensation to $16.48 million since July 5, 2022. Voyager has reportedly paid $8.97 million of this sum.
The authorized value fallout doesn’t cease with McDermott Will & Emery. Kirkland & Ellis, one other authorized adviser, has additionally billed Voyager for $1.1 million for its April providers. The submitting that that is the “compensation in the amount of $1,128,312.40, which is equal to 80% of the total amount of reasonable compensation for actual, necessary legal services that K&E incurred in connection with such services during the Fee Period.”
These costs stem from Voyager’s chapter announcement on July 5, 2022, amid the crypto lending turmoil that had the corporate declare liabilities between $1 to $10 billion.