Mt. Gox Creditors to Vote on Draft Rehabilitation Plan

The Japanese trustee of Mt. Gox said creditors will now have a chance to approve a draft rehabilitation plan for assets still held by the long-defunct bitcoin exchange.

  • Creditors will on the plan proposed by trustee Nobuaki Kobayashi, in March 2020 and filed in December.
  • The measure comes after the draft was approved by the Tokyo District Court’s examiner.
  • The vote will be conducted online, by mail and in person, with a goal of resolution at a creditors’ meeting on Oct. 20 this year.
  • The draft outline indicates that creditors who have filed claims will receive the assets in their original deposited form if they are fiat currencies, or . Other crypto assets will be liquidated and refunded as fiat currency.
  • creditors have been awaiting such a resolution since 2014 when it was revealed that 850,000 bitcoins had been stolen from the exchange by hackers.

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