Mt. Gox Announces to Proceed Bankruptcy Process

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Mt. Gox Announces to Proceed Bankruptcy Process

ForexMinute.com – After a long calm, Mt. Gox came yet again on the surface by announcing to commence its bankruptcy proceedings. The demised Japanese Bitcoin exchange yesterday posted a notice on its website, mentioning the schedule following which the bankruptcy claims will be addressed.

There is also a number of users that has reportedly received emails from Mt. Gox with the same announcement. According to these emails and the published notice, users can file bankruptcy claims (along with proof) from November 28th, 2014. Prior to the aforementioned date, there is also a creditor meeting held on July 23rd, 2014 to report the status of the assets. This meeting will be conducted at Tokyo District Courtroom.

The notice however also says, “Creditors are not obligated to attend the creditors’ meeting, and the creditors will not be disqualified from the liquidating distribution due to their absence from creditors’ meetings. It is planned that the content of the report at the creditors’ meetings will be disclosed on the website www.mtgox.com.

The announcements indeed opens the possibility of creating a viable dialogue between the users and Mt. Gox. In February, the month in which Mt. Gox was supposedly attack, its users accumulatively lost million-dollar worth Bitcoin, leading to a havoc in the entire cryptocurrency market. Few developments were made months after the attack, where Mt. Gox found about 20,000 lost bitcoins “accidentally”. Although, the end-users were still unable to claim their lost money. The aforementioned notice have indeed open a new way towards this direction.

The whole document is available here.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com

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