{"id":37069,"date":"2021-02-26T10:38:34","date_gmt":"2021-02-26T08:38:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=37069"},"modified":"2025-08-29T09:39:38","modified_gmt":"2025-08-29T06:39:38","slug":"court-approves-mt-gox-creditors-restitution-plan","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/court-approves-mt-gox-creditors-restitution-plan\/","title":{"rendered":"Court approves Mt.Gox creditors&#8217; restitution plan"},"content":{"rendered":"<p>The trustee overseeing the collapsed cryptocurrency exchange Mt.Gox, Nobuaki Kobayashi, has announced that creditors will vote on the restitution plan. The exchange&#8217;s wallet holds 137,891 BTC (roughly $6.3 billion at the time of writing).<\/p>\n<p><!--more--><\/p>\n<p>The Tokyo District Court approved the document, <a href=\"https:\/\/u1f987.com\/en\/news\/mt-gox-trustee-submits-2-6-billion-plan-to-compensate-bitcoin-creditors\">proposed<\/a> by the trustee in December 2020. The vote will be conducted online, by mail, and in person to reach a decision by October 20, 2021.<\/p>\n<p>The plan for restitution that was published online <a href=\"https:\/\/u1f987.com\/en\/news\/details-emerge-of-mt-gox-creditors-payouts\">proposes<\/a> payments in fiat, Bitcoin, and Bitcoin Cash. The remaining Mt.Gox cryptocurrencies will be sold. Fiat payments are a priority \u2014 part or all of the Bitcoin and Bitcoin Cash may be sold to cover them.<\/p>\n<p>The first payments will go to creditors who would have received them had the bankruptcy procedure continued. The trustee will also make basic payments of 200,000 yen (~$1,920) to each creditor.<\/p>\n<p>As the basis for cryptocurrency payments, Kobayashi proposed an exchange rate of Bitcoin and Bitcoin Cash to yen at the start of the civil rehabilitation proceedings.<\/p>\n<ul>\n<li>749,318.83 yen per 1 BTC (~$7,205);<\/li>\n<li>97,481 yen per 1 BCH (~$940).<\/li>\n<\/ul>\n<p>The exchange Mt.Gox filed for bankruptcy in 2014. The restitution process was launched in 2018, but Kobayashi has repeatedly asked the court to amend the timing for providing the restitution plan.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"joa732Zzcj\">\n<p>The never-ending story: will Mt.Gox&#8217;s payouts to investors crash the price of bitcoin?<\/p>\n<\/blockquote>\n<p><iframe loading='lazy' class='wp-embedded-content' sandbox='allow-scripts' security='restricted' style='position: absolute; visibility: hidden;' title='\u00abThe never-ending story: will Mt.Gox's payouts to investors crash the price of bitcoin?\u00bb \u2014 ForkLog' src='https:\/\/u1f987.com\/exclusive\/beskonechnaya-istoriya-obrushat-li-tsenu-bitkoina-vyplaty-investoram-mt-gox\/embed#?secret=x9qhqHruF3#?secret=joa732Zzcj' data-secret='joa732Zzcj' width='500' height='282' frameborder='0' marginwidth='0' marginheight='0' scrolling='no'><\/iframe><\/p>\n<p>In April 2019, the trustee notified users who had not sought compensation that they would also receive funds. Some creditors sold the rights to their bitcoins to interested parties.<\/p>\n<p style='margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block;'><a style='text-decoration: underline;' title='View 20210225 Announcement En on Scribd' href='https:\/\/www.scribd.com\/document\/496078932\/20210225-Announcement-En#from_embed'>20210225 Announcement En<\/a> by <a style='text-decoration: underline;' title='View ForkLog&apos;s profile on Scribd' href='https:\/\/www.scribd.com\/user\/456422024\/ForkLog#from_embed'>ForkLog<\/a> on Scribd<\/p>\n<p><iframe loading='lazy' id='doc_61918' class='scribd_iframe_embed' title='20210225 Announcement En' src='https:\/\/ru.scribd.com\/embeds\/496078932\/content?start_page=1&#038;view_mode=scroll&#038;access_key=key-IW0c0Oz9S7DwDLbfRp5d' width='600' height='800' frameborder='0' scrolling='no' data-auto-height='false' data-aspect-ratio='0.7080062794348508'><\/iframe><br \/>\nSubscribe to ForkLog news on Telegram: <a href='https:\/\/t.me\/forklogfeed' target='_blank' rel='nofollow noopener'>ForkLog Feed<\/a> \u2014 the full news feed, <a href='https:\/\/telegram.me\/forklog' target='_blank' rel='nofollow noopener'>ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The trustee of the collapsed cryptocurrency exchange Mt.Gox, Nobuaki Kobayashi, announced that creditors would vote on the restitution plan. The exchange&#8217;s wallet holds 137,891 BTC (~$6.3 billion at the time of writing).<\/p>\n","protected":false},"author":1,"featured_media":37070,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,136],"class_list":["post-37069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-mtgox"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/37069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=37069"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/37069\/revisions"}],"predecessor-version":[{"id":37071,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/37069\/revisions\/37071"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/37070"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=37069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=37069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=37069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}