For customers of the bankrupt cryptocurrency exchange Mt. Gox approached the deadline for filing applications for refund is October 22.
On rehabilitation possibilities of their investments, the customers of Mt. Gox learned in August. In June the Tokyo district court made the decision to change the procedure of compensation of losses from the bankruptcy of the exchange for civil rehabilitation. The essence of the differences between these two forms of damages is that under bankruptcy proceedings non-monetary claims kompensiruet money, and when the civil rehabilitation non-monetary claims money is not kompensiruet.
In fact, this means that lenders can expect a return on their money in bitcoin, not cash equivalent, calculated on the basis of the price of bitcoin in 2014, when there was a break-in of the exchange. Then the rate of bitcoin was less than $600, and at the time of publication of news hovering around $6450.
Corporate and private creditors can begin to apply last month. After the expiry of the deadline, Trustee of Mt. Gox, Nobuaki Kobayashi (Nobuaki Kobayashi) must apply for approval of the procedure. According to the document describing the civilian rehabilitation, will be considered only applications from lenders, which is talking about bitcoins. Refunds to another cryptocurrency will not occur, it applies to all coin formed by forks of the bitcoin network. If the creditors want to get a full refund, and other digital currencies, too, the applications they need to designate the equivalent number of bitcoins.
Some lenders believe that the compensation may cause the collapse of the market. According to them, after the customers receive their bitcoins, they will immediately begin to sell them on the exchanges. Due to the large amount of money supply will exceed demand and prices will start to fall.
