Sullivan & Cromwell, a law firm that worked with FTX before its collapse, will reap millions from FTX’s bankruptcy after the court approved its retention in the case.
, the firm’s lawyers now have about eight months to untangle the complicated FTX case, which will cost a lot of time and money. Sullivan & Cromwell has more than 150 people working on the FTX case, including 30 partners with rates exceeding 2,000 per hour. Associates are charging up to about $1,500 per hour, the report notes, citing a court filing.
“The important question is never are the lawyers charging a lot; it’s is it worth it? If they can recover a lot of money, then it’s probably worth it.” The news comes shortly after FTX bankruptcy judge John T. Dorsey on Jan. 19 approved Sullivan & Cromwell’s retention as FTX’s legal team despite controversy about the firm allegedly having potential conflicts of interest in the case.
Good news for Sullivan & Cromwell. The FTX Bankruptcy Judge just approved their retention amid scathing allegations by a former FTX Chief Regulatory Officer. No continuance to investigate but the Judge's decision made sense and S&C's arguments were compelling/very well-presented.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
FTX legal team calls for Sam Bankman-Fried’s family to answer questions under oath: ReportFTX legal team calls for the family of former CEO Sam Bankman-Fried to answer questions under oath in bankruptcy court. Will hidden assets tied to the crypto exchange be uncovered?
Leer más »
FTX Chasing Bankman-Fried Family for Answers Over Wealth: ReportLawyers for the bankrupt FTX exchange are seeking answers from the family of alleged crypto fraudster Sam Bankman-Fried.
Leer más »
FTX opposes new bankruptcy investigation as it probes Bankman-Fried connectionsFTX has objected to a U.S. Department of Justice request for an independent investigation into the once-prominent crypto exchange's collapse, saying it is already conducting a wide-ranging probe that includes family members of FTX founder Sam Bankman-Fried. FTX said in a court filing in Wilmington, Delaware, late on Wednesday that the DOJ's proposed review would only add cost and delay to its bankruptcy case. FTX acknowledged 'fraud, dishonesty, incompetence, misconduct, mismanagement, and irregularity' in its past conduct, but said that its previous wrongdoing is already being probed by the company's new management, its creditors and law enforcement agencies.
Leer más »
Jazmine Sullivan, Jeff Tweedy, D'Angelo Join Audible's 'Words + Music' Series'Words + Music,' the musical narrative series from Audible, has announced its upcoming slate of contributors, which will include exclusive and personal releases from Jazmine Sullivan, Jeff Tweedy, and D’Angelo.
Leer más »
Inside the Sullivan-Netanyahu meetingSullivan made it clear to Netanyahu that the Biden administration is concerned about his judicial overhaul plan.
Leer más »
Palestinians officials say the Abbas-Sullivan meeting was bleakPalestinian President Mahmoud Abbas’ meeting with White House national security adviser Jake Sullivan last week was bleak and didn't make much progress, Palestinian officials told Axios.
Leer más »