- Within the third and ultimate invoice, attorneys representing Voyager Digital’s collectors submitted $5.1 million.
- When all payments are paid in full, Voyager Digital’s collectors could have paid attorneys a complete of $16.48 million.
- The authorized fees will add $5.28 million to the corporate’s chapter funds. USD from the preliminary 11.2 million.
In a current court docket submitting, New York-based regulation agency McDermott Will & Emery sought $5.1 million from collectors of bankrupt cryptocurrency brokerage Voyager Digital. The corporate pays for companies supplied from 2023 onwards. March 1 till Could 13
Legislation workplace on July 3. submitted a press release to the court docket relating to the fee of authorized charges to the “Official Committee of Unsecured Collectors”. The regulation agency billed an hourly price of $1,026.76 for its companies, based on the submitting.
In whole, the regulation agency billed for five,332.6 hours {of professional}, semi-professional and non-professional companies, together with recommendation to Voyager’s unsecured collectors’ committee. She additionally desires to be reimbursed $151,221 for her bills.
How a lot have Voyager Digital collectors paid to date?
Legislation agency McDermott Will & Emery has filed a 3rd and ultimate invoice that totals compensation from 2022. July 5 till 2023 Could 19 amounted to 16.48 million USD, of which 8.97 million USD has already been paid by collectors.
However McDermott Will & Emery is not the one regulation agency keen to assist Voyager. Authorized counsel Kirkland & Ellis additionally despatched Voyager a invoice for $1.1 million. $ of authorized charges for the month of April, June 28.
Bother with Voyager Digital
Voyager Digital in 2022 filed for Chapter 11 chapter in July following the large crypto crash that adopted the collapse of Terra Luna. Voyager owed $620 million on the time. USD to now-bankrupt cryptocurrency hedge fund Three Arrows Capital.
The chapter court docket has since ordered Voyager to pay non permanent compensation to professionals, together with attorneys.
Voyager accepted FTX’s provide for its property shortly earlier than FTX collapsed and likewise filed for chapter, which means the deal didn’t undergo.
Voyager then agreed to promote its property to Binance.US, however Binance.US pulled out of the deal, prompting Voyager’s liquidation. Binance.US can also be embroiled in a authorized battle with the US Securities and Alternate Fee (SEC), which lately sued it for violating the nation’s securities legal guidelines.
