Rehabilitation trustee Nobuaki Kobayashi has granted a one-year extension to the repayment deadline for Mt. Gox.
The deadline for repaying the creditors of Mt. Gox has been officially extended by Nobuaki Kobayashi, the trustee handling the case. Previously set for Oct 31, 2023, the new deadline is now Oct.
In a letter dated Sept 21, Kobayashi mentioned that he had obtained permission from the Tokyo District Court to extend the deadlines for base repayment, early lump-sum repayment, and intermediate repayment.
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Notification of Revised Repayment Deadlines. Source: Mtgox.com
Furthermore, Kobayashi clarified that rehabilitation creditors who have furnished the necessary information can expect repayments to commence as early as the end of this year in an orderly sequence.
The Legacy Of Mt. Gox: From Pioneering Exchange To Collapse
Kobayashi explained that the schedule may change due to circumstances. Furthermore, they have not yet determined the specific timing of repayments to each rehabilitation creditor.
The current holdings of the Mt. Gox estate consist of approximately 142,000 Bitcoin, 143,000 Bitcoin Cash, and an equivalent amount in Japanese yen, equaling about 69 billion. In its prime days, Mt. Gox was a pioneering cryptocurrency exchange that handled over 70% of all transactions within the blockchain ecosystem.
2014 following a significant hack in 2011 and alleged insolvency, the site experienced a collapse. However, This event had repercussions for approximately 24,000 creditors, resulting in the loss of 850,000 BTC.
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