FTX lawyers and advisors have so far charged more than $500 million in bankruptcy proceedings

As bankruptcy costs continue to rise, FTX attorneys and consultants have approved more than $500 million in fees from the bankruptcy estate, and the agency overseeing the bankruptcy process is understood to have requested more than $700 million in fees and expenses, even though many requests have been slashed by 20 percent and some have yet to be approved. Sullivan and Cromwell, FTX's special counsel for bankruptcy cases, topped the list with an approval fee of $254 million (though its bill amounts to $360 million), followed by financial advisor Alvarez and Marsel with an approval fee of $133 million, according to court filings. Other law firms and advisers included forensic investigation consultant AlixPartners, special counsel Quinn Emanuel Urquhart & Sullivan, investment banker Perella Weinberg Partners and co-counsel Landis Rath & Cobb, who collected a total of $57 million in fees.