Bankrupt Voyager Digital’s Collectors Racks Up $5.1M in Authorized Charges

The collectors of the bankrupt crypto agency, Voyager Digital, face a $5.1 million invoice. The New York legislation agency McDermott Will & Emery is in search of compensation for authorized companies supplied from March 1 to Might 13, 2023, in accordance to a submitting on July 3.

The substantial bill was charged to the “Official Committee of Unsecured Collectors,” in any other case referred to as the collectors of Voyager Digital, with an hourly charge of $1,026.76, encompassing a variety of authorized duties. The legislation agency was engaged in a wide range of roles, together with guiding the committee by chapter proceedings, negotiating with debtors and different events and managing the mandatory paperwork:

This marks McDermott Will & Emery’s third and remaining bill, rounding up the whole claimed compensation to $16.48 million since July 5, 2022. Voyager has reportedly paid $8.97 million of this sum.

The authorized price fallout doesn’t cease with McDermott Will & Emery. Kirkland & Ellis, one other authorized adviser, has additionally billed Voyager for $1.1 million for its April companies. The submitting that that is the “compensation within the quantity of $1,128,312.40, which is the same as 80% of the whole quantity of cheap compensation for precise, mandatory authorized companies that Okay&E incurred in reference to such companies throughout the Price Interval.”

These prices stem from Voyager’s chapter announcement on July 5, 2022, amid the crypto lending turmoil that had the corporate declare liabilities between $1 to $10 billion.