the group of professionals assigned to the ftx bankruptcy case billed a total of 38 million plus expenses for their services in january the bankruptcy administrators have hired the law firm sullivan  cromwell as their primary counsel along with quinn emanuel urquhart  sullivan and landis rath  cobb as special counsel for the proceedings alixpartners a consultancy firm was also retained to conduct forensic analysis on ftxs defi products and tokens to sort through ftxs accounting records and determine which assets can be sold financial services firms alvarez  marsal and perella weinberg partners were retained sullivan  cromwell billed 168 million quinn emanuel urquhart  sullivan billed 14 million and landis rath  cobb billed 663995 for their services in january according to court records the three firms collectively have over 180 lawyers and 50 nonlawyer staff assigned to the case sullivan  cromwell spent the most time on discovery followed by asset disposition and analysis and recovery initially the us department of justice objected to sullivan  cromwells hiring claiming potential conflicts of interest ftx founder sam bankmanfried also objected to the law firms hiring alleging that its staff had pressured him into filing for bankruptcy in november however a delaware bankruptcy court judge approved the firm to continue representing ftx in late january quinn emanuel urquhart  sullivan spent most of their billed time on asset analysis and recovery while landis rath  cobb spent a significant amount of time on hearings litigation and asset disposition alixpartners billed 21 million for their work while perella weinberg partners billed their monthly fee of 450000 and spent a significant amount of time developing a restructuring strategy and corresponding with third parties alvarez  marsal billed 123 million with their largest items billed for avoidance actions financial analysis and accounting in november interim ceo john j ray iii described the ftx situation as unprecedented and a complete failure of corporate controls and such a complete absence of trustworthy financial information ray submitted a bill for 305565 for his work in february in january a bankruptcy judge approved the sale of ftx assets ledgerx and ftx japan to create liquidity to pay back creditors next buy with crypto bybit launches debit card for bluechip cryptocurrencies