Mt. Gox Creditors' Meeting Delivers Few Answers and One Apology
Roger Ver speaks to the Japanese media outside court. Today's long-anticipated meeting between Mt. Gox bankruptcy trustee Nobuaki Kobayashi and creditors from the defunct exchange provided several revelations, but left many more questions unanswered. At the Tokyo meeting Kobayashi disclosed he would consider distributing the exchange's remaining funds as bitcoin, not Japan's native yen. He also revealed plans to meet with potential purchasers of Mt. Gox's remaining assets. Over 100 creditors, the large majority of whom were Japanese, filed into the meeting room of Tokyo's District Court to....
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A number of users once a part of the Mt. Gox exchange have reported received email message from Mt. Gox with an "Announcement of Commencement of Bankruptcy Proceedings." This aligns with an update dated 21 May posted on the Mt. Gox website, which sheds some light on some upcoming dates with regard to the liquidation process. For starters, November 28th, 2014 has been listed as the cut-off date for filing proof of bankruptcy claims. Separately, July 23rd, 2014 (1:30 PM local time) will mark the meeting for the reporting on the status of assets. That takes place at the Tokyo District....
The MT Gox saga is quickly becoming a distant memory, but as a second creditors meeting nears, voices are being raised and calls for resignations are starting to be made as creditors begin to lose patience. At the heart of the mystery is the alleged disappearance of - initially - 850,000 bitcoins. In an intriguing twists of events, only 10 days after declaring bankruptcy, MT Gox mysteriously found 200,000 bitcoins in an old format wallet, still leaving a huge black whole of hundreds of millions of dollars in unaccounted bitcoins to the tune of 650,000. Even more mysteriously, approximately....
The 4th creditors meeting in Tokyo for the Mt. Gox bankruptcy case wrapped up today with a staggering report of claims. 2,663,398,225,570 JPY which is roughly worth 22 billion dollars was claimed in the report by creditors. The report came from the Tokyo District Court, Collegiate Section of the 20th Civil Division. Breakdowns of the numbers in Bitcoins....
The leading cryptocurrency exchange Kraken and Tokyo’s court-appointed trustee has announced the current status of all Mt Gox claims have been determined. For the first time, thousands of claimants will be able to see if their claim has been accepted and will soon be processed. The Mt Gox Creditors Meeting in Tokyo Determines All Claims. The San Francisco-based Kraken has revealed the news today concerning the long awaited Mt Gox claims. During the creditor’s meeting in Tokyo, Trustee Nobuaki Kobayashi has detailed that over 24 thousand claims were filed. Out of all the claims, a very....
The bankruptcy claims against the defunct Bitcoin exchange Mt. Gox has found to be six times the market cap of Bitcoin itself. According to a document published on Mt. Gox's official website, the amount of all the bankruptcy claims filed by over 24,000 creditors is found to be ¥2.66 trillion (around $22.09 billion at press time). Interestingly, the bankruptcy claims filed by the top three creditors alone make 95% of the total claims. The official document further recognizes the trolling capabilities of the said claims, stating that the Mt. Gox trustees are still investigating each case to....