Mt. Gox Publishes An Announcement On “The Preparation Of A Rehabilitation Plan”

Sometime this week, Mt. Gox released an announcement stating that its civil rehabilitation and bankruptcy trustee, Nobuaki Kobayashi, has paid off 25,331 BCH and 24,658 BTC. The trustee is now working on “the preparation of a rehabilitation plan” to repay monetary claims against the defunct exchange.

The announcement notes that the liquidations are in accordance with the February 28th Civil Rehabilitation Proceedings pertaining to its bankruptcy that mandated: “measures are taken to secure the interests of all creditors who filed proofs of claims for the pending bankruptcy case against the bankrupt entity.” Ever since the 10th creditors meeting which happened back in March (7th) of this year, the bankruptcy trustee has sold up to 25,331.00761 BCH and 24,658.00762 BTC. From the sale of such, about JPY 26 billion (roughly $230 million) has been paid into the bankruptcy trustee’s account.

Also, in addition to the 43 billion yen that Nobuaki Kobayashi confirmed having unloaded back in March, the trust has now revealed up to $630 million in sales this year. The announcement states that “As a result of the Sale, the balance in the bankrupt trustee’s account was approximately JPY 70,059 million.”

Additionally, the announcement notes that the bankruptcy trustee also entered into a “Trust Agreement” and “Guarantee Entrustment and Guarantee Agreement with [Sumitomo Mitsui Banking Corporation (SMBC)],” making SMBC a trustee of “a trust for the principal and delay damages of the monetary claims filed in the Bankruptcy Proceedings, the total amount of which is about JPY 17,864,000,000 ($158.7 million).” After the recent sale not long ago, Nobuaki Kobayashi “has already secured a suitable amount of money to secure the interests that are expected to have obtained by BTC creditors under the Bankruptcy Proceedings in connection with BTC claims to be treated as non-monetary claims under the Civil Rehabilitation Proceedings.”

The announcement concluded by noting that the civil rehabilitation trustee is now “considering to prepare a rehabilitation plan taking into consideration that the monetary claims filed in the Bankruptcy Proceedings are protected as described above and to repay such monetary claims, the principal obligations, in accordance with such rehabilitation plan.”


Time limit is exhausted. Please reload CAPTCHA.