CoinLab Won't Object to Mt. Gox Bankruptcy Protection Request in the U. S.
Former Mt. Gox partner CoinLab is reportedly backing disgraced bitcoin exchange Mt. Gox's attempts to get bankruptcy protection here in the United States, the Wall Street Journal reports. Court documents from last Friday indicate that they won't object to Gox's request for bankruptcy protection, and interesting development given the company hinted earlier at being against the scenario. Judge Stacey Jernigan of the bankruptcy court in Dallas, Texas has not yet given the former exchange's bankruptcy case the go-ahead, something Mt. Gox trustee Nobuaki Kobayashi says would give him more....
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CoinLab's first incubator company Alydian has filed for bankruptcy after only launching three months ago. The company, which enables people to mine bitcoins without having to operate their own mining equipment, filed for Chapter 11 protection in US bankruptcy court in Seattle on Friday, according to the Wall Street Journal. The bankruptcy petition, which was signed by CoinLab CEO Peter Vessenes, states that Alydian has less than $50,000 in assets. Also, the company owes $600,000 to CoinLab, $3m to New Zealand's XRay Holdings LLC and $40,000 to Vessenes. Alydian. Back in early August,....
Seattle-based digital currency startup and the former manager of Mt. Gox's US and Canada operations CoinLab has announced that it is now supporting the Japan-based exchange's Chapter 15 bankruptcy filing. The news comes from court papers filed Friday, 6th June and obtained by The Wall Street Journal that state that CoinLab will not move to oppose the filing. CoinLab previously objected to the revival plan for Mt. Gox submitted by investor syndicate Sunlot Holdings. The move, while seemingly small, could open the door for the Sunlot Holdings plan, as well as those rumored to be submitted by....
Bitcoin business incubator CoinLab has been ordered by a court in New York to pay BitInvestment LLC in bitcoin on the grounds of breach of contract. In a lawsuit file last week, BitInvestment alleged that CoinLab failed to come through with approximately 8,000 BTC in an arrangement made in August. Judge Robert W. Sweet demanded CoinLab not transmit bitcoin to any other parties except BitInvestment, until their financial obligation under the agreement was met. CoinLab head honcho Peter Vessenes said, "of course we will comply (with the judge's order) as well as we're able," in an email to....
The biggest mystery is why Coinlab's claim has not been thrown out yet. The Mt. Gox debacle will always remain a dark period in the history of Bitcoin. After multiple years of investigation this exchange, more evidence continues to come to light on a regular basis. A new blog post indicates how affected exchange victims will not see their money back anytime soon. Creditors are still pursuing the stolen money, yet it appears they have been stonewalled by a company called Coinlab. To put this news into perspective, Coinlab CEO Peter Vessenes has – allegedly – a credible claim in the Mt. Gox....
A US bankruptcy court has rejected a filing from Seattle-based digital currency service CoinLab Inc. in the latest development in the case of failed Japan-based bitcoin exchange Mt. Gox. CoinLab sought to stop investor group Sunlot Holdings from purchasing Mt. Gox in documents filed during a 27th May hearing in US Bankruptcy Court in Dallas, Texas. According to The Wall Street Journal, CoinLab's filing was complicated when Mt. Gox's lawyers stated that the deal involving Sunlot had not been given any special status by the courts, and that as such, other offers regarding the ownership and....