The Bitcoin Foundation will host a Mt. Gox trustee’s vote on their plan to rehabilitate the defunct exchange’s debts. Claimants will have to vote “yes” or “no” on the plan before October 17. Voting will be held in the form of a mailing, and ballots must be postmarked by this date.
Mt Gox Claims, the company behind the collapsed Bitcoin exchange, recently published a proposal to allow claimants to vote on trustee’s rehabilitation plan. The proposal has been criticized for its lack of transparency, and claims it will only allow claims to vote on the plan after October.
Mt Gox’s trustee Nobuaki Kobayashi presented a proposal at the Tokyo District Court on July 22, 2017 to rehabilitate Mt Gox bankruptcy and return the exchange to business. The court will determine if the proposal is sufficient and if the creditors’ demands are met, before giving it to the bankruptcy court to vote on. The creditors are demanding that the company’s assets be returned to them, which could range from 200% to 400% of all assets.. Read more about future of cryptocurrency 2021 and let us know what you think.Nobuaki Kobayashi, the trustee overseeing the civil rehabilitation process of Mt. Gox, has made a proposal that Mt. Gox claimants can vote for a refund. The vote will take place on the 8th. October completed, and more than 50% of the vote is needed to approve the settlement.
Mt GoxCivilian Rehabilitation Process Begins
The victims of the infamous Mt. Gox pirates may have a chance to get their money back after all these years. This will happen if the proposal by Nobuaki Kobayashi, trustee in the Tokyo bankruptcy, is approved by a majority. Those who did not vote are portrayed as having a negative vote. If you do not vote, you will be deemed to have voted against the proposed reorganization plan to claim the amount of voting rights, according to the letter, which was sent on 31. May has been published. Kobayashi’s letter goes on to say: We are pleased to inform you that the online voting function has been introduced in the online system for the submission of rehabilitation applications. In addition to online voting for or against the draft restructuring plan, it is intended that the system will also be used by creditors in the future for the repayment procedure.
Mt Gox Bitcoin claims to be worth much more than 7 years ago
If approved by a majority vote, the reorganization plan becomes final and binding on the Tokyo District Court. The rehabilitation plan will come into effect and payments will be made in accordance with the rehabilitation plan, the letter said. Upon approval of the draft reorganisation plan and entry into force of the final and binding confirmation order of the Tokyo District Court, the reorganisation plan will become effective and payments will be made in accordance with the plan. In addition, reconciliation forms and other documents will be sent to creditors, Kobayashi said. It has been seven years and three months since the collapse of the popular Japanese cryptocurrency exchange. A total of 850,000 BTC ($29.5 billion) were stolen and 200,000 BTC ($7.3 billion) were recovered after the company filed for bankruptcy. Creditors’ accounts are worth much more than in 2014, and many are hoping to be repaid in BTC, while some Mt Gox victims have already sold their claims. What do you think of the vote on reparations in Mt. Gox? Let us know what you think in the comments below.
Tags in this story
Bitcoin, Bitcoin (BTC), BTC, claimant, creditor, hacked exchange, Japan, Mt. Gox, Nobuaki Kobayashi, settlement plan, Tokyo, Tokyo District Court, vote Photo credit: Shutterstock, Pixabay, Wiki Commons Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.The Mt Gox trustee’s rehabilitation proposal has been voted on by claims committee members of the Bitcoindevelopment company, according to court documents filed on September 23, 2017.. Read more about why is cryptocurrency valuable and let us know what you think.
future of cryptocurrency 2021will cryptocurrency crashis cryptocurrency legalwhy is cryptocurrency valuable,People also search for,Privacy settings,How Search works,future of cryptocurrency 2021,will cryptocurrency crash,is cryptocurrency legal,why is cryptocurrency valuable