Mt. Gox Settlement Decision Delayed As Trustee Seeks US Bankruptcy Approval
The latest hearing in the ongoing legal case surrounding Mt. Gox today did not result in the approval of a proposed plan to revive the troubled Japan-based exchange, as presiding Judge Gary Feinerman decided to delay further deliberation of the matter until 13th May. The delay was requested by the defence, which argued that the settlement would stay the litigation against Mt. Gox CEO Mark Karpeles and the exchange's parent company Tibanne KK, thereby preventing these parties from fighting their case in court for an undefined period of time. The news comes amid growing uncertainty regarding....
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The Chapter 15 US bankruptcy filing submitted by defunct bitcoin exchange Mt. Gox won approval in a Dallas court today as part of a move that will send proceedings to Japanese courts for further deliberation. The case update, while largely procedural, should empower Japanese courts to take a greater oversight into the case, including any proposed restructuring plans. Bloomberg Businessweek summed up the importance of the decision, writing: "The ruling empowers the company's Japanese trustee to examine witnesses, gather and review evidence and oversee assets in the US, such as servers." Mt.....
The bankruptcy trustee for the now-defunct bitcoin exchange Mt Gox has released a new update, offering fresh details on the claims submitted so far. The report, published today by trustee Nobuaki Kobayashi, states that a total of 24,733 people have filed claims against the bankrupt exchange, 9,863 of which relate to bitcoin holdings lost when Mt Gox went bust in 2014. The firm filed for bankruptcy just days after details of its insolvency first emerged, with the claims process beginning last spring. Kobayashi would later extend that deadline. According to the report, creditors claimed....
The deadline for creditors to file claims against the bankrupt MtGox bitcoin exchange has been extended until July 29, 12:00 JST. On April 22, 2015, the bankruptcy trustee created a system that enabled MtGox users to file claims against the exchange regarding their lost funds. Currently, the bankruptcy trustee is accepting bankruptcy claims filed by users using the system, an online method which the trustee claims to be temporarily unavailable. The period for filing bankruptcy claims was set to end on May 29, 2015, but the bankruptcy trustee has been accepting filings of bankruptcy claims....
The latest Mt Gox creditors’ meeting trustee has revealed payment claims for customers have all been approved or rejected, but the bankruptcy investigation is still ongoing. Mt Gox Trustee Details Mt Gox Investigation Continues While Claims Are Being Processed. During the 8th Mt Gox creditors’ meeting, the Tokyo District Courts’ bankruptcy trustee....
This document on the Mt. Gox website announces the Tokyo court ruling, ordering bankruptcy proceedings for the exchange. The Mt. Gox website got updated with a new document. The Tokyo District Court ordered liquidation to begin at the failed Bitcoin exchange. This definitive order follows an earlier announcement made last week, where the bankruptcy administrator said it would be difficult to get Mt. Gox started again. "At 5 p.m. on April 24, 2014, the Tokyo District Court issued an order of commencement of the bankruptcy proceedings for MtGox Co., Ltd. (the "Company") (Case No.: Heisei....