New FTX_Official CEO John Ray is billing $1,300 an hour as he attempts to wind up the defunct crypto exchange – but his fees may pale in comparison to the overall costs of corporate restructuring. By jackschickler
, is billing $1,300 per hour for his trouble, court documents filed on Sunday show.
Continued payment of salaries “is necessary for the preservation of the resources and value" of the FTX estate, said the filing by Edgar Mosley, managing director at restructuring consultancy Alvarez & Marsal. “Without it, I believe that even more employees may seek alternative employment opportunities … likely, diminishing stakeholder confidence in the Debtors’ ability to successfully reorganize.
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