Latest compensation filings show that in the last three months ending Oct. 31, defunct crypto exchange FTX spent nearly $53,000 per hour on bankruptcy lawyers and advisors.

Documents deposited Reports filed in court from Dec. 5 to Dec. 16 show bankruptcy attorneys billed at least $118.1 million between Aug. 1 and Oct. 31. That works out to $1.3 million per day, or $53,300 per hour, for 92 days.

The heaviest bill belonged to the management consultancy company Alvarez and Marshall. invoiced $35.8 million for his services.

In second place was the law firm Sullivan & Cromwell. he billed $31.8 million for his services. The average hourly rate for Sullivan & Cromwell’s services was $1,230.

AlixPartners, global consultancy, invoiced $13.3 million during the reporting period for professional services related to criminal investigations. Quinn Emanuel Urquhart and Sullivan invoiced Total revenue for other smaller consulting firms was over $26.8 million, compared to $10.4 million in the same period.

Figures shared by a fake FTX creditor in a post published on December 17

We’re sharing a tweet about X — Mr. Purple ️ (@MrPurple_DJ) December 17, 2023

BTW @lopp estimates remaining professional expenses will total $1.8 billion, up from $1.45 billion. The Estate currently turns over $0.5 billion a year, and failures are no short success.

To date, the fees claimed in less than a year are as follows (approximately $350 million has been paid): pic.twitter.com/5p6at5ZbWy

BTW @lopp This estimates the remaining $1.45 billion in professional fees to total $1.8 billion. Real estate currently rakes in $0.5 billion a year in fees, and bankruptcies are not a quick thing.

To date, the fees petitioned in less than 1 year are as follows (~$350 million paid): pic.twitter.com/5p6at5ZbWy

— Mr. Purple ️ (@MrPurple_DJ) December 17, 2023

In the meantime reports Precedent determination submitted Dec. 5 by court-appointed wage examiner Katherine Stadler. “Major areas of concern” with invoices submitted between May 1 and June 31 by larger consulting firms including Sullivan & Cromwell, Alvarez & Marshall and others.

“The Pay Examiner identified apparent overstaffing, excessive meeting attendance, non-business travel time compensation, and various technical and procedural deficiencies with respect to some time postings (including indefinite and flat rate bookings).”We read in the report on the bills submitted by Alvarez & Marshall.