Mt Gox’s Bitcoin Creditors Can Now File for Rehabilitation Claims

Creditors of the long-defunct bitcoin exchange Mt Gox can now begin submitting proof of their claims in a newly-approved rehabilitation process.

Nobuaki Kobayashi, the trustee of Mt. Gox, announced in a note on Thursday that an online claim filing system is now up and running for creditors, whether or not they filed proofs for claims in the previous bankruptcy proceeding.

As previously reported by CoinDesk, Mt. Gox creditors won a big victory in June after a Tokyo district court moved the exchange from bankruptcy to a civil rehabilitation process. Most importantly, this opens the door to creditors receiving actual bitcoin compared to a cash payout equal to the value of their holdings when Gox went bust in early 2014.

Kobayashi said that creditors have until Oct. 22 to file proofs.

“The planned deadline for the Rehabilitation Trustee to submit a statement of approval or rejection to the court is January 24, 2019, but, at the current point in time, a definite date has not been determined,” the trustee said in a separate Q&A document.

However, users who lost online login access to Mt. Gox may have to submit information in an offline method by sending proofs to an address in Tokyo designated by the Mt. Gox trustee.

Mt. Gox, once the largest bitcoin exchange by trading volume, declared bankruptcy in 2014 after more than 744,000 BTC was stolen. Creditors subsequently began a years-long process in a bid to retrieve their funds.

As bitcoin’s price soared to nearly $20,000 late last year, several creditors filed a petition to the bankruptcy court in Tokyo, seeking to move the case into civil rehabilitation.

Currently, lawyers representing several Mt. Gox creditors who filed the petition are also drafting a proposed refund policy, arguing that Mt. Gox should repay creditors with the same cryptocurrencies they deposited with the exchange instead of cash.

And such assets should be sent to “exchanges in which many creditors have accounts or can open accounts easily,” as previously reported by CoinDesk.

Bitcoin image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.


Source link

Related posts

10 Thoughts to “Mt Gox’s Bitcoin Creditors Can Now File for Rehabilitation Claims”

  1. 醫學美容-4重-超微-cosmetic-wiki


  2. 醫學美容-茶多酚-高份子-cosmetic-wiki

    Playboy 【香氛系列】VIP男用淡香水的商品介紹 Playboy,香氛系列,VIP男用淡香水

  3. 醫學美容-分子-鎖色-cosmetic-wiki

    Marie Claire (HK) Edition Ah Sa及柏豪這兩位全民公認的潮流指標,早前就一齊染了個大熱彩紅頭轉新look,原來他們是為了拍adidas Originals春夏廣告!柏豪full set新裝上身,一身logo print襯彩紅

  4. Football Solutions Under-21 2011 - History - Greece-FYR Macedonia

    Luiz Felipe Scolari insists the absence of suspended captain John Terry from their last three games has not been the reason behind a string of defensive lapses. Scolari: Absence of John Terry is not the reason for Chelsea’s defensive woes

  5. Adoring fans greet returning Barcelona - UEFA Champions League - News

    Chelsea midfielder Michael Ballack has picked the perfect time to find his form this season, with negotiations stalling over an extension to his £130,000-a-week contract. Chelsea 3 Ipswich 1: Ballack looks like the real deal at last

  6. Women's World Cup - Fatma Şahın

    The England Under-20 World Cup winner was the subject of a failed bid from Rovers prior to the August 9 transfer deadline but Tony Mowbray remains keen on striking a deal with an initial loan. Harry Chapman poised for Blackburn return as Middlesbrough prepare to let midfielder leave on loan

  7. uk canada australia

    … [Trackback]

    […] Find More Information here to that Topic: […]

  8. ccvdumps to cvv

    … [Trackback]

    […] Here you will find 73816 more Information to that Topic: […]

  9. สล็อตวอเลท

    … [Trackback]

    […] Info to that Topic: […]

  10. DevOps as a Service companies

    … [Trackback]

    […] Find More to that Topic: […]

Leave a Comment