The expenses of the lawyers and restructuring team working on FTX exceeded $200 million in just seven months.
FTX, which filed for bankruptcy in November 2022, continues to shake. On June 20, court-appointed compensation auditor Katherine Stadler submitted a 47-page report on FTX’s financial data. The most notable piece of data in the report was the cost of the lawyers and configuration team involved in the FTX case so far. Spending more than $200 million in just 7 months will apparently continue to hurt.
Announcement Received from Financial Authorities
Stadler, expressing his views on the 47-page financial report published on the stock market case, said;
Despite the relative scope of the known asset pool, these transactions seem very expensive in every way. The fees accrued to date are remarkable, but so is the performance of the professionals.
Addressing the unregulated system in which FTX operates, Stadler added that the situation is notable given the exchange’s global coverage, the absence of corporate records and the absence of even the most basic corporate governance. It is not yet predicted where the FTX costs, which are very damaging, will reach.
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