![Celsius case ‘administrative expenses’ add up to $53M](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2022/09/celsius-finances.jpg&w=70&h=37&q=75)
Celsius case ‘administrative expenses’ add up to $53M
Lawyers, bankers and other advisers in the case earned $53 million for four months of work.
![Celsius case ‘administrative expenses’ add up to $53M](https://cryptoslate.com/wp-content/uploads/2022/09/celsius-finances-768x403.jpg)
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Lawyers, advisers, and bankers involved in the Celsius bankruptcy case collectively earned $53 million as administrative expenses in four months, as reported by the Financial Times.
Among Celsius’ five advisors, Kirkland & Ellis was billed the most significant amount at $20.1 million. The company served Celsius for 212 days for $166,000 per day.
On the other hand, White & Case’s services as advisors to unsecured creditors committees cost the most expensive among the other four companies. The company earned $10.2 million by participating in the case for 94 days, charging $109,000 daily.
![Legal fees for the Celsius case](https://cryptoslate.com/wp-content/uploads/2022/12/Screenshot-2022-12-28-at-20.23.18.png)
Finally, Jenner & Block made a considerably larger sum for its services as the advisors to the examiner compared to Huron Consulting. With a $59,000 rate per day, Jenner & Block assisted the case for 32 days, making a total sum of $1.9 million.
Crypto lender Celsius declared bankruptcy on July 14, 2022. Being one of the companies that were affected by the ripple effect of the Terra-Luna crash, Celsius paid its DeFi loans to Aave, Compound, and Maker, which led to the firm’s bankruptcy.