- Within the third and closing invoice, attorneys representing Voyager Digital’s collectors billed $5.1 million.
- When all payments are totally paid, Voyager Digital’s collectors could have paid a complete of $16.48 million to attorneys.
- Authorized prices will exceed the corporate’s chapter finances by $5.28 million from the unique $11.2 million.
Within the latest court docket submitting, collectors of bankrupt cryptocurrency brokerage agency Voyager Digital have been charged $5.1 million by New York regulation agency McDermott Will & Emery. The agency invoices for companies offered between March 1 and Could 13, 2023.
The regulation agency filed a case in court docket on July 3 charging the authorized charges to the “Official Unsecured Collectors Committee”. In keeping with the submitting, the regulation agency billed its companies at an hourly charge of $1,026.76.
In complete, the regulation agency payments 5,332.6 hours for skilled, semi-professional and non-professional companies, together with advising Voyager’s unsecured collectors’ committee. She additionally desires to be reimbursed $151,221 for her bills.
How a lot have Voyager Digital’s collectors paid up to now?
Regulation agency McDermott Will & Emery has filed its third and closing bill, bringing its complete compensation between July 5, 2022 and Could 19, 2023 to $16.48 million, of which $8.97 million has already been paid. by collectors.
McDermott Will & Emery is not the one regulation agency wanting to assist Voyager, although. Authorized counsel Kirkland & Ellis additionally despatched Voyager an bill for $1.1 million in authorized charges for the month of April on June 28.
The misfortunes of Voyager Digital
Voyager Digital filed for Chapter 11 chapter in July 2022, after the large crypto meltdown that resulted from the collapse of Terra Luna. On the time, Voyager owed $620 million to the at present bankrupt crypto hedge fund Three Arrows Capital.
The chapter court docket has since ordered Voyager to pay interim reimbursement to the professionals, together with its attorneys.
Voyager had accepted FTX’s provide for its belongings simply earlier than FTX went bankrupt and in addition filed for chapter, that means the deal fell by.
Voyager then agreed to promote its belongings to Binance.US however Binance.US withdrew from the deal triggering the liquidation of Voyager. Binance.US has additionally been embroiled in a authorized battle with america Securities and Exchanges Fee (SEC), which not too long ago sued it for violating the nation’s securities legal guidelines.
