Mt. Gox Trustees Set Jan. 10 Deadline for Registering Repayment Choices
Mt Gox Exchange users may be one step closer to getting their money back after trustee Nobuaki Kobayashi announced repayment options.
Creditors of defunct cryptocurrency exchange Mt. Gox have until January 2023 to register and choose a repayment method as part of a loss cover plan.
Nobuaki Kobayashi, the trustee of Mt. Gox, announced on the 6th that creditors must select a repayment method and register beneficiary information in the online rehabilitation claim filing system by January 10. Bank transfer, money transfer service, or cryptocurrency exchange or custodian. Kobayashi’s update is the latest development in a restructuring plan that began with his 2018 petition to compensate Mt. Gox creditors for funds lost after the 2014 collapse of the exchange.
“If the necessary selection and registration have not been completed, the following refunds cannot be received, so it is necessary to bring the required documents to the head office of MTGOX Co., Ltd. or to a place designated by our company. I received a notice that I will receive a refund in Japanese yen. “If we cannot receive the refund, we will deposit the refund with the Legal Affairs Bureau.”
crypto exchange bitstamp announced Be one of the companies that support repayment plans.
Bitstamp is pleased to announce that we are supporting the MtGox creditor rehabilitation process.
If you are affected by this, please visit https://t.co/18bLcbjpKE for more information.$BTC #bitcoin #mtgox
— Bitstamp (@Bitstamp) October 6, 2022
Mr Kobayashi said his office or “third parties related to reimbursement” will, in addition to verifying the identity of the resident of the address provided, ensure that the name of the person registering is who is eligible for compensation. It said it would confirm a match.It is unclear whether the repayment plan included options for creditors to receive bitcoin (BTC) or fiat currency, and how soon after the Jan. 10 deadline the funds would be distributed. Unknown.
Related: Mt. Gox creditors unable to set repayment dates, but market unaffected
Losses for Mt. Gox users were estimated at billions of dollars following the collapse of the cryptocurrency exchange. About 99% of the platform’s affected creditors approved his draft rehabilitation plan in October 2021, with plaintiffs holding about 83% of the total voting power.
Kobayashi announced in November 2021 that the plan was deemed “final and binding” after being accepted by a Japanese court. However, in its Oct. 4 update, the trustee said it had petitioned for certain amendments to the provisions of the rehabilitation plan that “would not adversely affect rehabilitation creditors.”
Mt. Gox Trustees Set Jan. 10 Deadline for Registering Repayment Choices
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