Lawyer and consultant fees for Celsius bankruptcy proceedings are expected to reach $144 million

According to reports, developer Cam Crews has compiled an online chart detailing the lawyer and consultant fees Celsius will need to pay in bankruptcy proceedings. According to data, the related expenses reported by the Celsius Network to the court have reached 102 million US dollars, and it is expected to still pay 42 million US dollars, totaling 144 million US dollars. These fees will flow to more than ten legal service agencies, of which Kirkland Ellis is expected to receive $48.8 million. （Cointelegraph）

Interpretation of this information:

The message reports that Cam Crews, a developer, has compiled data regarding the lawyer and consultant fees Celsius will need to pay during their bankruptcy proceedings. According to the data, Celsius Network has reported related expenses of 102 million US dollars to the court, and it is expected that they will still need to pay 42 million US dollars, bringing the total expenses to 144 million US dollars. Over ten legal service agencies will receive these fees, with Kirkland Ellis expected to receive the largest share of $48.8 million.

Celsius Network is a cryptocurrency lending and borrowing platform that has experienced financial difficulties in recent times. This message suggests that the expenses incurred in the bankruptcy proceedings will be significant, with legal and consulting fees alone totaling 144 million US dollars. This is a substantial amount of money and highlights the complexity and high costs associated with bankruptcy proceedings.

The fact that over ten legal service agencies will receive these fees suggests that the bankruptcy proceedings involve significant legal work. This is not surprising, as bankruptcy proceedings are often complex and involve many stakeholders. The fact that Kirkland Ellis is expected to receive the largest share of the fees suggests that they are likely playing a significant role in the proceedings.

In summary, this message suggests that Celsius Network’s bankruptcy proceedings will involve significant legal and consulting fees, totaling 144 million US dollars. More than ten legal service agencies will receive these fees, with Kirkland Ellis expected to receive the largest share. The high costs associated with the proceedings highlight the complexity and difficulties associated with bankruptcy in the cryptocurrency industry.