FTX bankruptcy legal fees approach nearly $1 billion, nearing historical levels of the Lehman Brothers case

On February 27, PANews reported that the legal and advisory fees for the FTX bankruptcy case have reached a total of $950 million, making it one of the most expensive bankruptcy cases in U.S. history, second only to the Lehman Brothers case. Among them, the restructuring advisor Alvarez & Marsal's fees are close to $400 million, the legal advisor Sullivan & Cromwell's fees exceed $300 million, and John Ray's consulting firm's fees are nearly $10 million. Overall legal and financial advisory fees are still on the rise, with the final cost expected to exceed $1 billion.