Trustee of the bankrupt crypto exchange Mt.Gox Nobuaki Kobayashi said that the Tokyo District Court extended the deadline for a civil rehabilitation plan until October 28.
However, he has again rescheduled the maturity of compensation to victims. According to the document obtained by NewsLogical, released on October 28, the new deadline is March 31, 2020.
He called the justification for such a decision the accumulated applications for compensation, which were partially or completely rejected and have uncertain status in the process of evaluating claims. It is also impossible to fully formulate the terms of the plan with regard to changing methods of payment of compensation.
Therefore, Nobuaki needs more advice for lenders regarding the payment method.
The document notes that a large number of rehabilitation applications accepted were not recognized by the trustee Nobuaki Kobayashi. Then the appeals were filed for the same applications, which led to the inability to process them before the deadlines.
Note that a significant number of applications still remain in the status of uncertainty.
According to a report presented at the meeting held on October 1 at the Tokyo District Court, it was shown that it was difficult to prepare a rehabilitation plan.
Nobuaki Kobayashi Keeps Prospecting for the Rehabilitation Funds of the Victims
Note, Nobuaki Kobayashi asked to provide with details of the investigation of the US Department of Justice to Alexander Vinnik, who was the operator of the BTC-e crypto exchange. According to the exchange trustee, Vinnik may be related to the laundering of missing funds.
In early summer, the US Department of Justice opened a lawsuit in the amount of $ 100 million, according to which Vinnik provided payment services without the availability of relevant legal documents that give the right to make such operations.
It should also be noted that Mt.Gox owns assets worth over 140,000 BTC as of September 30.
Kobayashi is in constant search for additional funds. If his efforts are successful, he intends to deposit money at an address controlled by him. In 2019, the Nobuyaki’s team spent more than $ 1.5 million to identify missing funds. As a result, she managed to find assets worth $ 644 million.
Therefore, the Mt.Gox manager can consider the claims of the creditors by March 31 next year, when updating the date of the provision of the rehabilitation plan.
In just a year, the Mt.Gox platform has gone from one of the largest cryptocurrency exchanges in the world to go bankrupt.
In early 2014, the exchange finally lost market leadership. In November 2017, attorneys of several website creditors filed a petition for the withdrawal of Mt.Gox from bankruptcy and the beginning of its civil rehabilitation process.