Just 4 Days Left For Claiming Refund's At Mt. Gox Exchange.

Just 4 Days Left For Claiming Refund's At Mt. Gox Exchange.

2018-10-19 | Big Bob

Just 4 Days Left For Claiming Refund's At Mt. Gox Exchange.

As previously reported by EtherDesk, the exchange primarily displayed its claims process in the month of Aug., earlier this year, following a prolonged bankruptcy battle.

Even in June, petitioners requesting their Bitcoin [BTC] back won a significant victory, when the Japanese bankruptcy court overseeing the proceedings shifted the case to one of civil rehabilitation, that meant the creditors could file for their crypto holdings, instead of a rescript equivalent based on crypto prices back in year 2014.

The price of Bitcoin [BTC] was around $600 USD at the time the exchange declared bankruptcy, However later soared to around $20,000 USD in Dec 2017 and is around $6,459.409 USD at the reporting time, in line with Bitcoin [BTC] Price Index by CoinChangelly.

However, as the deadline of Oct. passes, as started in the month of June this year, Mt. Gox exchange trustee Nobuaki Kobayashi would have an additional three months of time to file an announcement of approval or rejection.

While creditors can file for their lost Bitcoins [BTC], they can not nonetheless claim proceeds from any of the bitcoin forks that occurred since the funds were initially frozen in 2014.

As per a statement issued for the civil rehabilitation process:

"At this moment, we plan to accept specific filing of cryptos aside from bitcoins. Instead, we plan to consider bitcoin creditors who have filed a refund claim for bitcoins have additionally filed a proof of claims for alternative cryptocurrencies proportionate to the quantity of bitcoins filed. We would post the more elaborated data on this web site."

Both company and individual creditors are liable to file for their claims as from last month.

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