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Mt. Gox Civil Rehabilitation Proceedings

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Mt. Gox holds the title for being the victim of biggest con in the crypto world. The court hearing on its civil rehab proceeding attracted eyes of every cryptocurrency investors.

After the petition by the creditors of Mt. Gox for the commencement of the civil rehabilitation proceeding, Tokyo District Court issued a hearing with the commencement of civil rehab proceeding, eventually, bankruptcy proceedings were discontinued. The court has sent out administrative order appointing a Civil Rehabilitation Trustee, enabling to regulate Mt. Gox assets and its consequent disposal.

Required Information For Former Customers

  • Proof of Claim Proceedings – Civil Rehabilitation trustee will investigate each claim checking its validity with the amount and existence of filed claim. Necessary information will be required to file proof of claims will be notified in its website .                                Even if you have filed proof of claim for the bankruptcy, unfortunately, you have to refill the claim with required documents.

Do you wonder if you can claim for bitcoin forks as well?

For now, you can not file for other cryptocurrency apart from bitcoin. They will consider the claim which has filed other altcoins proportionate to equal number of bitcoins. Detail about this will be informed through website (https://www.mtgox.com/).

And there is a good news for those who haven’t filed for bankruptcy proceeding and or who have filed after the passing of filing period (May 25, 2016). Then you can file your proof of claims in civil rehabilitation proceedings.

Note – You shouldn’t prepare a proof of claim of your own. This may not contain necessary details required by the law and can cause lack of consistency. Further leading to the delay in repayment.

Court or concerned authority of civil rehabilitation authority may not able to contact customers who haven’t submitted their name and address to Mt. Gox. Such people are advised to check website regularly.

Every other customer is requested to file their proof of civil rehabilitation by no later that Monday, October 22, 2018, deadline for filing the claim.

Click here to know more on this.

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