Mt.Gox rehabilitation trustee shifting the deadline for submitting a rehabilitation plan

The trustee of now-defunct Japanese cryptocurrency exchange Mt.Gox has extended the deadline for the submission of rehabilitation plans.

The submission deadline for the Mt.Gox rehabilitation plan has been pushed back again

Mt.Gox rehabilitation trustee Nobuaki Kobayashi has secured a Court order shifting the deadline for submitting a rehabilitation plan. In a notice published earlier today, Nobuaki Kobayashi explains that he is currently formulating the rehabilitation plan. Still, as there are matters that require closer examination concerning the rehabilitation plan, it has become necessary to extend the submission deadline for the rehabilitation plan.

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The civil rehabilitation trustee, Nobuaki Kobayashi

Given this, the Rehabilitation Trustee filed a motion to seek an extension of the submission deadline of the rehabilitation plan at the Tokyo District Court, and, on March 27, 2020, the Court issued an order to extend the submission deadline for the rehabilitation plan to July 1, 2020.

The March 30 notice suggests that the rehabilitation could undergo some changes, although it’s unclear what those might be compared to the existing draft. The original court-ordered deadline for the rehabilitation plan was March 31.

The notice stated:

“The Rehabilitation Trustee is currently formulating the rehabilitation plan, but as there are matters that require closer examination with regard to the rehabilitation plan, it has become necessary to extend the submission deadline for the rehabilitation plan.”

The notice added:

“In light of the foregoing, the Rehabilitation Trustee filed a motion to seek an extension of the submission deadline of the rehabilitation plan at the Tokyo District Court, and, on March 27, 2020, the Tokyo District Court issued an order to extend the submission deadline for the rehabilitation plan to July 1, 2020.”

Let’s recall that, on February 14, 2020, the Tokyo District Court issued an order to set a period for conducting a special investigation to examine new proofs of rehabilitation claims and submission deadline for the rehabilitation trustee of the statement of acceptance or rejection for the particular investigation.

The accounts balance that the Rehabilitation Trustee has secured as of September 24, 2019, is JPY 69,397,600,922, which is about JPY 155,000,000 lower than the balance of JPY 69,553,086,521 reported at the 2nd creditors’ meeting under the Civil Rehabilitation Proceedings that took place on March 20, 2019.

However, among the account balance that has been secured, the Rehabilitation Trustee has established the trust as the measure to ensure the interests of bankruptcy creditors and entrusted the amount of JPY 15,894,665,473 (including an amount expected to be appropriated for various expenses of the trust) in the faith.

The amount of BTC held by Mt.Gox as of September 30, 2019, is 141,686.35446516BTC. The Rehabilitation Trustee is still investigating the existence of additional BTC held by the Rehabilitation Debtor (that is, Mt.Gox). The amount of BCH held by the Rehabilitation Debtor as of September 30, 2019, is 142,846.35166254 BCH.

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