Slyck.com
Search Slyck  
Anonymous
Welcome
 
Tokyo Court Approves Mt. Gox Liquidation
April 24, 2014
Amanda Marie
Font Bigger Font Smaller
The demise of Mt. Gox is officially imminent. A document posted today on the Mt. Gox website, shows that the Tokyo District Court has given the go ahead to proceed with the liquidation and has appointed a bankruptcy trustee.

The document states, “The power and authority to administer and dispose of the assets of the Company is vested exclusively in the bankruptcy trustee, and the bankruptcy trustee will implement the bankruptcy proceedings, such as the administration and realization of the Company’s assets and the investigation of the claims. We kindly ask for your understanding and cooperation.”

The bankruptcy trustee is expected to implement the bankruptcy proceedings from a fair and independent perspective. The power and authority to administer and dispose of the assets of the Company is vested exclusively in the bankruptcy trustee.

Mt. Gox’s bankruptcy trustee, attorney Nobuaki Kobayashi, has stated that "it is unlikely that the company can restart the exchange." Following an investigation of claims made by creditors, Mt. Gox's assets will be converted to cash. A creditors meeting is scheduled to be held on July 23, 2014. However, those owed money were warned in carefully chosen words of the potential for seeing no return.

Listed in the document is a phone number to call, and the document also provides many answers to several frequently asked questions. The document noted that all future updates and announcements will continue to be posted on the Mt. Gox website.

At one point Mt Gox, which was run by American Chief Executive Mark Karpeles, was responsible for approximately 80% of all of the global transactions of the Bitcoin exchange.

This story is filed in these Slyck News categories

You can discuss this article here

© 2001-2019 Slyck.com