Restitution for victims Mt Gox

Victims of the bankrupt Mt Gox may get bitcoins back. This is evident from the recently published announcement stating that the current bankruptcy proceedings will be halted. A petition from Mt Gox creditors has led to the remaining bitcoins possibly being returned to their rightful owners on a pro rata basis.

In the current bankruptcy procedure, non-monetary claims must be converted into monetary claims. This means that the bitcoins will be reimbursed at the current value from the moment the bankruptcy commences. In the rehabilitation procedure, the non-monetary goods do not have to be converted, and can be distributed to the creditors themselves. Since the bitcoin value was set at $ 483 at the time of bankruptcy, the creditors will be much more profitable with the return of their bitcoins, even if this is pro rate.

Important dates to keep an eye on during the civil rehabilitation procedure are:

  1. Meeting for reporting the status of the assets and the deadlines for submitting a report: September 26, 2018.
  2. Deadline for submitting evidence for the claims: October 22, 2018.
  3. Deadline for the inventory of all assets and trade balance: January 23, 2019.
  4. Deadline for declarations of approval or disapproval: 24 January 2019.
  5. All evidence review period: from January 31, 2019 to February 7, 2019.
  6. Deadline for the proposed rehabilitation procedure: February 14, 2019.

Where filing of claims for bankruptcy was previously possible on the Mt Gox website, it will also be possible at a later date for civil claims. For this, use must be made of the username and password that belong to the Mt Gox account used.

Even if a claim has already been submitted in the bankruptcy proceedings, this must be done again with the corresponding evidence. Any additional information, and when the claims can be submitted, will be announced on the Mt Gox website.

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