Mt. Gox Creditors’ Wait Nearly Over as Trustee Announces Draft Rehabilitation Plan

Mt. Gox’s trustee Nobuaki Kobayashi has at last filed a draft plan for the rehabilitation of creditors including former users.

• Posted on the Mt. Gox website Tuesday, the trustee's announcement states: “The Tokyo District Court and an examiner will review the draft rehabilitation plan and determine whether to proceed with the rehabilitation proceedings relevant to the draft rehabilitation plan."
• While there are no details provided on the plan, the announcement marks the beginning of the end for users who have been waiting for refunds since 2014 when the exchange collapsed.
• As reported by CoinDesk, the submission deadline for the rehabilitation had previously been pushed back a number of times after opposition from some creditors.
• In 2014, Mt. Gox declared bankruptcy after hackers allegedly stole 850,000 bitcoins from its servers over a period of time.
• The Mt. Gox estate comes from 200,000 bitcoins found in an old wallet after the exchange collapsed, as well as bitcoin cash created in a fork of the bitcoin blockchain.
• At last count, it is estimated Mt. Gox still holds approximately 141,600 bitcoin and 142,800 bitcoin cash.

See also: Mt. Gox Deadline Extended Again After Creditors Criticize Refund Proposal