{"id":284853,"date":"2022-12-29T02:00:06","date_gmt":"2022-12-29T02:00:06","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=284853"},"modified":"2022-12-28T21:45:23","modified_gmt":"2022-12-28T21:45:23","slug":"celsius-case-administrative-expenses-add-up-to-53m","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/celsius-case-administrative-expenses-add-up-to-53m\/","title":{"rendered":"Celsius case ‘administrative expenses’ add up to $53M"},"content":{"rendered":"

Lawyers, advisers, and bankers involved in the Celsius<\/a> bankruptcy case collectively earned $53 million as administrative expenses in four months, as reported by the Financial Times<\/em><\/a>.<\/p>\n

Among Celsius' five advisors, Kirkland & Ellis was billed the most significant amount at $20.1 million. The company served Celsius for 212 days for $166,000 per day.<\/p>\n

On the other hand, White & Case's services as advisors to unsecured creditors committees cost the most expensive among the other four companies. The company earned $10.2 million by participating in the case for 94 days, charging $109,000 daily.<\/p>\n

\"Legal
Legal fees for the Celsius case<\/figcaption><\/figure>\n

Finally, Jenner & Block made a considerably larger sum for its services as the advisors to the examiner compared to Huron Consulting. With a $59,000 rate per day, Jenner & Block assisted the case for 32 days, making a total sum of $1.9 million.<\/p>\n

Crypto lender Celsius declared<\/a> bankruptcy on July 14, 2022. Being one of the companies that were affected by the ripple effect of the Terra-Luna crash, Celsius paid its DeFi loans to Aave, Compound, and Maker, which led to the firm's bankruptcy.<\/p>\n","protected":false},"excerpt":{"rendered":"

Lawyers, advisers, and bankers involved in the Celsius bankruptcy case collectively earned $53 million as administrative expenses in four months, as reported by the Financial Times. Among Celsius’ five advisors, Kirkland & Ellis was billed the most significant amount at $20.1 million. The company served Celsius for 212 days for $166,000 per day. On the […]<\/p>\n","protected":false},"author":1262,"featured_media":260749,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77901,77873,60793],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"\nCelsius case 'administrative expenses' add up to $53M<\/title>\n<meta name=\"description\" content=\"Lawyers, bankers and other advisers in the case earned $53 million for four months of work.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/celsius-case-administrative-expenses-add-up-to-53m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Celsius case 'administrative expenses' add up to $53M\" \/>\n<meta property=\"og:description\" content=\"Lawyers, bankers and other advisers in the case earned $53 million for four months of work.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/celsius-case-administrative-expenses-add-up-to-53m\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-29T02:00:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-28T21:45:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/09\/celsius-finances.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Zeynep Geylan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Zeynep Geylan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/celsius-case-administrative-expenses-add-up-to-53m\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/celsius-case-administrative-expenses-add-up-to-53m\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/#person\",\"name\":\"Zeynep Geylan\",\"url\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/zeynep-geylan\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/03\/zeynep-geylan-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/03\/zeynep-geylan-author-300x300.jpg\",\"caption\":\"Zeynep Geylan\"},\"jobTitle\":\"Journalist\",\"description\":\"Zeynep is an academic who turned to crypto in 2018. 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