Celsius Bankruptcy Professional Bills Are Already Into Millions
- A near-$3 million advisory bill has already been submitted
- Crypto restructurings are a new market for lawyers, advisers
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The first bills from the army of lawyers and advisers working on the bankruptcy of crypto lender Celsius Network LLC are in and already adding up to millions of dollars.
Alvarez & Marsal North America LLC, a financial adviser for debtors, has asked to be paid about 80% of a near-$3 million bill for work involving 20 staffers over July 14 to Aug. 31, according to a filing Tuesday.