share this article
Creditors of bankrupt cryptocurrency firm Voyager Digital face $5.1 million in claims. New York law firm McDermott Will & Emery is seeking compensation for legal services rendered between March 1 and May 13, 2023. according to For submission on July 3rd.
The large bill was billed to the “Official Board of Unsecured Creditors”, known as Voyager Digital’s creditors, at an hourly rate of $1,026.76 and included extensive legal work. The law firm played a variety of roles, including guiding the commission through the bankruptcy proceedings, negotiating with debtors and other interested parties, and managing the necessary paperwork.
This will be McDermott Will & Emery’s third and final bill, rounding up the total amount of damages claimed after July 5, 2022 to $16.48 million. Voyager reportedly paid $8.97 million of this amount.
The impact of legal costs goes beyond McDermott Will and Emery. Another legal counsel, Kirkland & Ellis, also said: billed Voyager $1.1 million for April service. This is a “compensation of $1,128,312.40, which represents 80% of the total reasonable compensation incurred by K&E in connection with legal services actually required during the fee period,” the application states.
These charges stem from Voyager’s bankruptcy announcement on July 5, 2022, amid a crypto lending turmoil that led the company to declare between $1 billion and $10 billion in debt. there is