The repercussions of crypto winter continue as Voyager Digital’s creditors receive a $5.1 million ethical products and companies invoice from New York-based regulations firm McDermott Will & Emery.
The substantial invoice used to be charged to the “Reliable Committee of Unsecured Collectors,” in any other case identified because the creditors of Voyager Digital, with an hourly payment of $1,026.76, encompassing a huge collection of ethical projects. The regulations firm used to be engaged in a diversity of roles, together with guiding the committee thru chapter court cases, negotiating with debtors and other parties and managing the significant forms:
This marks McDermott Will & Emery’s third and final invoice, rounding up the total claimed compensation to $16.48 million since July 5, 2022. Voyager has reportedly paid $8.97 million of this sum.
The ethical price fallout doesn’t cease with McDermott Will & Emery. Kirkland & Ellis, any other ethical adviser, has additionally billed Voyager for $1.1 million for its April products and companies. The submitting that right here’s the “compensation within the quantity of $1,128,312.40, which is similar to 80% of the total quantity of reasonable compensation for steady, foremost ethical products and companies that Good enough&E incurred in reference to such products and companies for the duration of the Price Length.”
These costs stem from Voyager’s chapter announcement on July 5, 2022, amid the crypto lending turmoil that had the firm declare liabilities between $1 to $10 billion.
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