Voyager Digital Creditors Billed $5.1 Million for Recent Legal Services
On Monday, McDermott Will & Emery, a law firm, sent a bill to a consortium of creditors of the bankrupt cryptocurrency brokerage, Voyager. The law firm has received a total compensation of $16.48 million for the legal services rendered thus far, of which $8.97 million has been paid.
Because Bitcoin
July 4, 2023
The Block reported that McDermott Will & Emery, a law firm, invoiced the creditors of Voyager Digital, a bankrupt cryptocurrency brokerage, approximately $5.1 million for legal services rendered from March 1 to May 18. In a court filing on Monday, the law firm submitted the bill to the "Official Committee of Unsecured Creditors," bringing its overall compensation to $16.48 million, covering the period from July 22, 2022, to May 18, 2023. Thus far, the law firm has received a total of $8.97 million from the creditors.
Voyager filed for Chapter 11 bankruptcy protection in July 2022, following its involvement in the cryptocurrency credit crisis that occurred the previous year. Another court filing on Monday revealed that Kirkland & Ellis, another law firm, charged Voyager and related debtors a total of $27.97 million for its legal services between July 5, 2022, and May 19, 2023. As per the filing, the debtors have paid $23.38 million to Kirkland & Ellis thus far.
Aside from Voyager, Kirkland & Ellis has also represented several other bankrupt cryptocurrency companies, including BlockFi and Celsius.
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