Court Trustee Says Mt Gox Rehabilitation Plan Final and Binding” –

Mt Gox claimants could soon receive a refund as a recently filed application by Tokyo District Court Trustee Nobuaki Kobayashi declares that the rehabilitation plan is now “final and binding.” The document, published on Tuesday, notes that an announcement will follow disclosing the “details of the precise timing, procedures and amount of such repayments.”

Mt Gox Creditors May See Bitcoin Returns Soon

On Tuesday, Nobuaki Kobayashi published a notice Confirmation that the rehabilitation plan has been completed. Bitcoin worth over $9 billion ( BTC ) may find its way back to the original owners who lost money during the Mt Gox hack and subsequent bankruptcy. Since 2014, thousands of former Mt Gox users have tried to get their money back and have encountered a variety of obstacles over the years.

Kobayashi's filing states that the court in Tokyo revealed The draft restructuring plan was “approved by a large majority of the restructuring creditors” in May and on October 20, 2021. The court filing does not specify when the funds will be paid out and whether the funds will be paid out directly into Bitcoin ( BTC ). “Rehabilitation creditors will be informed of the details of the exact timing, procedures and amount of such repayments,” Kobayashi said.

Mt Gox was one of the largest Bitcoin exchanges before its collapse in 2014, affecting nearly 24,000 customers. The exchange was run by Mark Karpelès and originally the exchange lost 850,000 BTC but Karpelès managed to find some of the Bitcoins from cold storage. Reports Detail that there are approximately 150,000 BTC which Kobayashi will supposedly distribute to Mt Gox's creditors.

Creditors must use Mt Gox's online filing system - a large number of requests may delay response times

The court filing released Tuesday further explains that the trustee expects "all rehabilitation creditors" to provide information such as bank account information using the Online filing system. The website states that the deadline for submitting claims-based evidence passed on October 22 and since then, users have no longer been able to submit evidence of rehabilitation claims through the online submission system.

Kobayashi adds that the trustee and court will not respond to direct inquiries or email inquiries regarding the claims process. Additionally, those using the online submission system may have to wait a little longer, as Kobayashi explained that a large number of requests can delay response times.

What do you think of the latest Mt Gox refund requests? Let us know your thoughts on this topic in the comments below.

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