Voyager Digital, a cryptocurrency brokerage facing bankruptcy, has been ordered to pay $1.1 million to the law firm Kirkland & Ellis for legal advisory fees related to its ongoing bankruptcy proceedings. Documents show that Kirkland & Ellis charged a combined hourly rate of $1,313.18 for services rendered in April, resulting in a total amount exceeding $1.4 million. The high fees highlight the complexity of navigating legal matters in the crypto space, particularly in bankruptcies. Kirkland & Ellis is known for representing multiple cryptocurrency firms during such proceedings. Voyager filed for bankruptcy protection in July 2022, citing the crypto credit crisis as the reason. The company revealed liabilities ranging from $1 billion to $10 billion. Other crypto companies, like FTX, have also incurred substantial fees during bankruptcy proceedings.
Continue reading on Crypto.news
