Mt Gox’s Bitcoin Creditors Have 4 Days To Submit Rehabilitation Claims

Customers of the old crypto exchange Mt. Gox must submit claims for caught assets by Oct. 22.

The exchange originally opened up the cases procedure in August, after an extended chapter 11 fight.

In June, petitioners asking for their bitcoin back won a major victory, as the Japanese bankruptcy court overseeing the proceedings shifted the case to one of civil rehabilitation, meaning creditors could file for their cryptocurrency holdings, rather than a fiat equivalent based on cryptocurrency prices in 2014.

Bitcoin was worth under $600 at the time the trade opted for non-payment, yet thusly took off to around $20,000 in December 2017 and is around $6,500 at press time, according to CoinDesk data.

After the October due date goes, as set out in late June, Mt. Gox trustee Nobuaki Kobayashi will have a further three months to file an announcement of endorsement or dismissal.

While creditors can file for bitcoin claims, they cannot yet claim proceeds from any of the bitcoin forks that occurred since the funds were first frozen in 2014.

“At this moment, we plan not to accept the specific filing of cryptocurrencies other than bitcoins. Instead, we plan to deem bitcoin creditors who have filed a proof of claim for bitcoins have also filed a proof of claims for other cryptocurrencies proportionate to the number of bitcoins filed. We will post further detailed information on this website.”


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