Mt. Gox Bankruptcy Trustee Say Creditors Can Vote For Rehabilitation Plan

The voting deadline for the “Draft Rehabilitation Plan” is 8 October 2021.
Mt. Gox Trustee Say Creditors Can Vote For Rehabilitation Plan

Nobuaki Kobayashi, the Japanese trustee of the infamous Bitcoin exchange, Mt.Gox, has announced that creditors can vote online for the rehabilitation plan. The voting process will end on October 8, and more than 50% of votes will need to solidify the settlement plan. 

The trustees of the Mount Gox exchange reported that victims of the 2014 hack can now vote for them.  A draft plan to recover part of their lost Bitcoin(BTC).

The trustee states: “We are pleased to inform you that online voting function has been released on the online rehabilitation claim filing system,” the notice of release of online voting function document reads.  Creditors must log in to such a system through

“If you do not vote, you will be deemed to have voted against the Draft Rehabilitation Plan for the requirement of the amount of the voting rights.”

Also Read: Thailand SEC Wants To Regulate DeFi Transaction in Accordance With DAA

If voting passes with a majority vote, the rehabilitation plan will become final and binding with the Tokyo District court.  The Rehabilitation plan will become effective and will make repayment according to the Rehabilitation plan. The company will mail the voting forms and other documents to creditors. Once creditors vote online, there is no need to vote using a voting form.

Tokyo-based Mt. Gox was once the largest crypto exchange globally after its launch in 2010 declared bankruptcy in 2014. A total of 850,000 BTC was stolen but the company was able to recover only 200,000 BTC after filing bankruptcy. The creditor’s accounts are worth much more than they were in 2014, and many of them reimbursed in BTC.  Some Mt.Gox victims have already sold their claims.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts