The asset Manager Mt. Barrister Gox, Nobuaki Kobayashi said that the bankruptcy of the exchange is suspended and starts the process of civil rehabilitation. On Friday, June 22, the Tokyo district court responded positively to filed in November last year the petition.
People wishing to obtain the lost funds from the exchange, which was the largest in the world by trading volume before in 2014, lost hundreds of millions of dollars and failed, might be able to get your money back in next year.
Kobayashi said: lenders who wish to restore the lost funds in bitcoins, will be able to get a large amount than those who sought to obtain compensation in Fiat currencies when the market’s only the beginning of the bankruptcy procedure.
In particular, Kobayashi writes:
In the framework of bankruptcy procedure of the requirements of the non-monetary nature are transformed into a monetary claim based on the assessment made at the beginning of the bankruptcy procedure. In contrast, in the procedure of civil rehabilitation non-monetary claims do not turn in money at the beginning of the procedure. Therefore, the claim about return of bitcoins will not turn into a monetary claim after the start of civil rehabilitation.
He also explained that the extent of the right bitcoin creditors to vote on the decisions concerning the intended rehabilitation plan depends on the value of the cryptocurrency at the beginning of the procedure.
In other words, the assets of Mt. Gox bitcoin do not have to sell, as it happened until now, but you can distribute on a Pro rata basis. This means that victims will be able to obtain more than $440 per bitcoin (the coin at the start of the bankruptcy procedure): in the past this possibility has been the subject of controversy.
Kobayashi promised that on 26 September will speak at the meeting of creditors in Tokyo, will talk about the status of the assets of Mt. Gox. Further until October 22, the applicants will have to apply for rehabilitation, including the actual confirmation of their claims. By 14 February 2019 proposal requests on the rehabilitation will be submitted to the court.