Mt. Gox creditors will soon be able to take hold of their funds after the deadline for the payment method has lapsed, although a court said it could take a while before the money could be fully released.
The Mt. Gox trustee also gave creditors one more month—until April 6—to select their repayment method as the largest creditor claims he’ll hodl the BTC.
Mt. Gox trustee revealed that repayments to some creditors will start in a week and extend all the way to September; but will it deal a blow to BTC price?
Mt. Gox Investment Fund and Bitcoinica have reportedly chosen to receive their payout in BTC as creditors weigh whether a bird in hand is worth two in the bush.
Mt Gox trustee gave the creditors until January 10, 2023, to register their preferred repayment method as Bitstamp announced it’s among the selected exchanges.
Mt. Gox trustee failed to set a date for repayment but gave creditors until September 15 to transfer claims—those who bought these claims could make 10x in ROI.
In the latest update, the Mt. Gox trustee told creditors that after September 15, he will “cease accepting applications for claim transfer procedures.”
The Mt. Gox trustee has announced in a letter that the rehabilitation plan he filed in Tokyo court last February is now final and binding.
Trustee Nobuaki Kobayashi said the plan would be published on December 15, the latest of a number of pushbacks of the date for publication.
A case in California is now waiting to be heard by a federal judge to determine if victims of the failed exchange can seek financial relief.
The lawyer appointed to oversee the Mt. Gox refunds, Nobuaki Kobayashi, has reportedly liquidated around $230 million worth of Bitcoin BCH and Bitcoin Core (BTC) in the past four months.
Court-appointed trustee Nobuaki Kobayashi has been liquidating some of the remaining cryptocurrencies at the best possible price.
