Mt Gox Bankruptcy Trustee Says Creditors Can Vote for a Rehabilitation Plan

After multiple extensions, Nobuaki Kobayashi, the Japanese trustee of the infamous Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term exchange, Mt. Gox Mt. Gox Mt. Gox is the name of a Japan-based cryptocurrency exchange that was infamously hacked for 850,000 BTC worth roughly $450 million at the time in February of 2014. During July 2010 Mt. Gox formally launched Mt. Gox launched its exchange and price quoting service. It was subsequently sold to French developer Mark Karpelès in early 2011.Prior to its hacking, Mt. Gox suffered from other security vulnerabilities as early as June 2011. On 19 June, 2011, a security breach of the exchange caused the no Mt. Gox is the name of a Japan-based cryptocurrency exchange that was infamously hacked for 850,000 BTC worth roughly $450 million at the time in February of 2014. During July 2010 Mt. Gox formally launched Mt. Gox launched its exchange and price quoting service. It was subsequently sold to French developer Mark Karpelès in early 2011.Prior to its hacking, Mt. Gox suffered from other security vulnerabilities as early as June 2011. On 19 June, 2011, a security breach of the exchange caused the no Read this Term, has announced that creditors can vote online on a rehabilitation plan. Kobayashi had already filed for it before the Tokyo District Court on December 15, 2020, with a revised version submitted on February 15, 2021.

“We are pleased to inform you that the online voting function has been released on the online rehabilitation claim filing system (the online system),” the ‘Notice of Release of Online Voting Function’ document reads. Creditors must log in to such a system through claims.mtgox.com and vote for or against the proposed draft rehabilitation plan.

Per the announcement, the deadline for online voting has been set for October 8, 2021, Japan time. The document, which is an English translation ‘for reference purposes only,’ specifies that people should refrain from disclosing or leaking materials, such as the relevant ones pertinent to the rehabilitation plan to third parties.

“If you do not vote, you will be deemed to have voted against the Draft Rehabilitation Plan for the requirement of the amount of the voting rights. Upon approval of the Draft Rehabilitation Plan and the Tokyo District Court’s confirmation order becoming final and binding, the Rehabilitation Plan will become effective, and repayments will be made in accordance with the Rehabilitation Plan,” the document adds.

People Should Refrain from Voting Twice

Furthermore, the voting form and other documents will be mailed to creditors, says the announcement. “Once you have voted online, you are not required to vote using a voting form (i.e., please refrain from voting twice). If you are a creditor with voting rights who has registered on the System, please vote online,” it highlights.

In 2019, Finance Magnates reported that the court-appointed trustee in Mt. Gox’s bankruptcy said he wanted to extend the deadline until March 31, 2020, due to a large number of disapproved claims. However, it has finally been delayed until now, opening the doors to creditors possibly getting their Bitcoins back.