Corporate Creditors Can Now Apply for Mt Gox Restitution
This week the trustee in charge of the Mt Gox legal case has announced that corporate clients can now file rehabilitation claims for the October 22 deadline. The news follows the claim process that started for noncorporate clients on August 23.
Corporate Creditors Can Now File Claims for Mt Gox Restitution
Corporate creditors can now join the rest of the claimants filing for the new rehabilitation process for a chance to receive some of the funds which were lost during the Mt Gox scandal. The process is being overseen by Nobuaki Kobayashi, the rehabilitation trustee for the now-defunct exchange. The new process was invoked by several Mt Gox clients who weren’t pleased with the previous bankruptcy case. The group managed to move the case from a bankruptcy proceeding to a civil rehabilitation that could produce much better results for clients who lost funds. Last August Nobuaki Kobayashi opened up the option for noncorporate clients to start the claim process.
Nobuaki Kobayashi wrote on the Mt Gox website: We are pleased to announce that we have released an online rehabilitation claim filing system for corporate users who filed their proofs of bankruptcy claim by using the Mt Gox online bankruptcy filing system which allows corporate users to file their proofs of claim by online methods in connection with the civil rehabilitation proceedings.
New Mt Gox Claim Process Confusing to Some Claimants
On the subreddit r/mtgoxinsolvency, a forum focused on the Mt Gox insolvency case, it’s been filled with people discussing the civil rehabilitation. A quick scan through the forums top posts shows many people have been filing claims and discussing the process in great detail. One big complaint was that some of the claimants are saying that a confirmation email isn’t being sent to the user saying the filing was complete. “There is no email confirmation, sadly,” explains one claimant. “How can it be confirmed the process was done correctly?” The subreddit moderators have also pinned a very informative post that provides a lot of details on the Mt Gox civil rehabilitation process.
Close to 800k BTC was lost during the Mt Gox fiasco, and after the site went dark some of those funds were found in cold storage. Mt Gox customers have been fighting for the rest of those funds for years. Civil rehabilitation customers believe they are entitled to the fair market value of all the coins. This includes the BTC and the BCH tethered to the original addresses in contrast to the $500 per BTC promised to them during the bankruptcy case.