U. S. District Judge Approves Settlement Proposed by Mt. Gox Creditors
Both Sunlot Holdings Ltd. and some Mt. Gox creditors have received a preliminary court approval this week of a settlement which would see the acquisition of the disgraced exchange for one bitcoin in a move that would allow customers to be compensated for lost funds. U. S. District Judge Gary Feinerman granted the initial approval at a federal court hearing in Chicago, Illinois on Wednesday, which would effectively settle a March class-action lawsuit against the company, Gonzague Gay-Bouchery (Mt. Gox's Marketing Chief), and Jed McCaleb (who founded Mt. Gox and sold it to Mark Karpeles in....
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A group of former Mt. Gox customers have not given up on a bold plan to revive the defunct bitcoin exchange. The claimants are already involved in two proposed class-action lawsuits against Mt. Gox and their lawyers claim to have reached a deal with US-based investors to prop up the exchange. Details of the proposed settlement were filed with a District Court in Chicago on Monday. Under the proposed agreement the former exchange users would get a 16.5% stake in the 'new' Mt. Gox, while the investor group, Sunlot Holdings, would take over the company. Notably, the documents also call for....
During a hearing in Tacoma, Washington, a US District Court Judge made some critical comments regarding the security of the anonymity software, Tor. FBI Can Crack Tor “Like Eggshells”. US district judge, Robert J. Bryan, made public record some thoughts he had regarding Tor. According to the judge, it was not wise to use the anonymity software as he believes the FBI “can go through that like eggshells.” What’s more is that Robert J. Bryan is the same judge who suppressed FBI evidence in the child pornography case that was obtained using the now infamous Tor exploit, commonly referred to as....
In the continuing legal saga between Ripple Labs, its top executives, and the U.S. Securities and Exchange Commission (SEC), U.S. District Court Judge Analisa Torres has made critical announcements concerning the upcoming trial dates and associated deadlines. In an August 9 filing in the U.S. District Court for the Southern District of New York, Judge […]
The plan is tentative at this stage and won't be finalized until it receives approval from Voyager's creditors and the bankruptcy payout plan is approved by the judge. Customers of bankrupt crypto lender Voyager Digital may be able to recover 72% of the value of their accounts under a tentative deal with FTX US, according to court documents. However, United States bankruptcy judge Michael Wiles during a court hearing said the tentative sale would not be final until it receives the approval of Voyager’s creditors and he approves the bankruptcy payout plan, saying during the court....
The creditors wrote that the employees are "already well-compensated" while its creditors struggle to pay their expenses. Voyager Digital Holdings’ committee of unsecured creditors has filed a motion to object to the firm's proposal to keep its employees by paying them monetary awards for staying in the company. On August 2, Voyager Digital filed a motion to the United States Bankruptcy Court in the Southern District of New York to approve the Key Employee Retention Plan (KERP) that aims to distribute $1.9 million to 38 key employees who were deemed to be very crucial to the operations of....