“It is a lot of money,” conceded one top lawyer in the case.... Worries about fees have not gone totally unchallenged in the Celsius case. A former bankruptcy judge, Christopher Sontchi...
As a general rule of thumb yes you can. Lawyer fees are also tax deductible.
Basic Information Bankruptcy fees paid to lawyers and trustees can be either a tax deduction or not and it will depend on the type of bankruptcy filed, Chapter 7 or 13, and on the items included in the petition. In order to take any bankruptcy expense as a deductible item on your taxes, you will need to file a Form 1040 and itemize your expenses. If you file using the short form, you will not be allowed to claim any itemized deductions. Deductions Allowed by IRS Regular legal expenses for Chapte...
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Legal fees in FTX bankruptcy hit $1.45B, surpassing the amount owed to customers, amid intense and costly legal proceedings.
Houston judge David R. Jones signed off on over $1 million of legal fees billed by lawyer Elizabeth Freeman on chapter 11 cases her former law firm filed in his court
FTX's top bankruptcy, legal and financial advisors have billed the company more than $19.6 million in fees, according to Tuesday bankruptcy court filings.
Cryptocurrency bankruptcy cases have become a lucrative source of income for law firms Sullivan and Cromwell and Kirkland and Ellis, with over $700 million in fees. FTX, Genesis Global Capital, Blo...
Some top law firms outpaced inflation in their latest bankruptcy rate increases, with leading restructuring lawyers now charging about $2,500 an hour for their work in complex bankruptcies.
in fees for lawyers handling the most high-profile cases. As of August, law firms working on... 11 bankruptcy processes. Law firm Sullivan & Cromwell netted the biggest gains at $215...