Mt.Gox, a Japanese-based Bitcoin exchange that went bankrupt in 2014, has postponed its repayment deadline and extended the deadline for claim application registration. The company made the announcement on March 9, stating that the deadline for claim application registration, which was previously set for March 10, 2023, has been moved to April 6, 2023, while the repayment deadline has been moved from September 30, 2023, to October 31, 2023.
Mt.Gox currently holds approximately 142,000 BTC, 143,000 BCH, and 69 billion yen in remaining repayments to rehabilitation creditors. The rehabilitation trustee of Mt.Gox launched a rehabilitation plan in 2019 to repay the creditors, and rehabilitation creditors were required to select a repayment method and register their payee information by March 10, 2023.
Due to various circumstances, the rehabilitation trustee has extended the deadline to April 6, 2023, to give rehabilitation creditors more time to complete the Selection and Registration process. However, the company warns that any further extension of the deadline may be difficult, and any creditor who fails to complete the Selection and Registration process by the new deadline will not receive any repayments.
Rehabilitation creditors who have already completed the Selection and Registration process do not need to perform the process again, but they may change their Selection and Registration up to April 6, 2023.
The repayment deadline, which was initially set for September 30, 2023, has also been postponed to October 31, 2023, following the extension of the deadline for Selection and Registration. The rehabilitation trustee obtained permission from the court to change the deadline.
Rehabilitation creditors who have not completed the necessary applications are urged to do so as soon as possible. The company advises that if applications are filed a few days before the deadline, the rehabilitation trustee may not be able to approve the applications in a timely manner due to a large number of applications, lack of sufficient time to correct deficiencies in the application, or other reasons. MtGox and the rehabilitation trustee will not be held liable for any rehabilitation creditor’s failure to log in to the system and carry out the Selection and Registration process by the deadline.
For any inquiries regarding the Selection and Registration process, rehabilitation creditors can log into the system and use the inquiry form accessible from the “Frequently Asked Questions (FAQ)” button in the upper right corner of the screen. Inquiries can also be made using the inquiry form accessible from the URL provided in the document. However, if inquiries are made in this manner, it may be difficult to verify the identities of the inquirers and creditors, which may make it difficult to respond to the inquiries smoothly. Therefore, rehabilitation creditors are advised to log into the system before making inquiries.
In conclusion, Mt.Gox has extended the deadline for claim application registration and postponed the repayment deadline to give rehabilitation creditors more time to complete the process. Rehabilitation creditors are urged to complete the necessary applications as soon as possible to avoid missing the new deadline.
Read more:
- Mt. Gox To Recover Funds After More Than 10 Years: Should Investors Be Worried?
- UBS Analysts Don’t Anticipate Major Fallout From Mt. Gox Repayments
- How Much Bitcoin Will Mt. Gox Pay To Creditors On March 10th?
- Mt. Gox Investment Fund To Keep Bitcoin Holdings Rather Than Selling Off