Bitcoin Exchange Mt. Gox' Bankruptcy Protection: What does it mean?
Mt Gox, the failed Bitcoin exchange, based in Tokyo, that has been granted bankruptcy protection in the US. Tom Hals, writing for Reuters, "the World's leading source of intelligent information," reported yesterday that Mt. Gox had successfully applied for, and been granted, bankruptcy protection. The failed exchange will now attempt to initiate full Chapter 15 bankruptcy proceedings in the United States as it awaits approval of a settlement with U. S. customers and a sale of its business. Mt Gox was once the world's leading exchange for trading the digital currency, but shut its website....
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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....
The embattled crypto exchange FTX has informed the public that the FTX parent firm West Realm Shires Services, Alameda Research, and approximately 130 additional affiliated companies have filed for Chapter 11 bankruptcy protection in Delaware. FTX’s Parent Company, Alameda Research, and 130 Associated Firms Voluntarily Commence Bankruptcy Proceedings After days of confusion and speculation, the firm FTX has announced it has filed for Chapter 11 bankruptcy in the U.S., according to a Twitter statement. The letter details that West Realm Shires Services (FTX International’s parent....
Following a filing for bankruptcy protection in Japan in late February (read more about that here), the troubled Tokyo-based exchange has reportedly filed for Chapter 15 bankruptcy protection at the U. S. Bankruptcy Court in Dallas, Texas, according to a number of reports (In re MtGox Co. Ltd., 14-bk-31229, U. S. Bankruptcy Court, Northern District of [Dallas] Texas). The move may, for the time being, put US-based legal action against the exchange on-hold - which will prevent Gox from spending presumably a large sum in legal fees defending themselves from a lawsuit filing in a Chicago....
There's been a lot of chatter recently regarding the Mt. Gox filing for bankruptcy protection. Today, we're learning via Bloomberg Businessweek that United States Bankruptcy Judge Stacey G. Jernigan has approved the filing and has 'ample legal authority' to recognize the disgraced exchange's bankruptcy in Japan as the main proceeding. The approval will allow the company's trustee in Japan to examine witnesses, assemble evidence, and control and oversee company assets right here in the United States. "This is really going to be all about the customers," said Jernigan in a hearing. Mt. Gox....
United States Bankruptcy Judge Stacey Jernigan has ordered that Mt. Gox CEO Mark Karpeles appear in Dallas, Texas at the offices of Baker & McKenzie, the firm that represents his company here in the States for a deposition, Reuters reports. Karpeles has been ordered to appear on April 17th. The move comes following a Chapter 15 bankruptcy protection filing in Texas last month, in which the company sought protection from creditors in the United States. "If he avails himself of this court, my God, he is going to get himself over here," the Judge was quoted as saying. By nature of the Chapter....