MtGox creditors ask the court to change the status of the case and fully distribute bitcoins

In the cryptocurrency community the work of the infamous MtGox exchange
became one of the most high profile trials, which stretches for nearly four years. Now a group of creditors asks the court MtGox Tokyo to change the status of the case of the exchange with bankruptcy civil rehabilitation.

The case MtGox and 200 000 BTC

The cost of bitcoin has been growing exponentially, and the MtGox creditors want to get their share of the profits. According to reports, the claimants now argue that the former stock exchange assets exceed current liabilities, and its former owner mark Karpeles (Mark Karpeles) even plans to revive the exchange.

Firm mostly controlled by the Director General of the exchange mark Karpeles, who is now under investigation on charges of embezzlement. In addition to the rights and assets of the company a Trustee appointed by the Tokyo court for the trial of MtGox, currently manages more than 200,000 BTC (3.4 billion dollars).

A new appeal to the court

In the Tokyo court was filed petition from the creditors of MtGox with a request to representatives of organizations dealing with bankruptcy of companies, to change the status of the case to another type of legal procedure called civil rehabilitation. If the status is changed, then creditors may be able to obtain all of your funds in full.

At the moment, by the decision of a trusted Manager from the Tokyo court system, the claimants can only rely on 450 dollars for one BTC. Moreover, at current prices Karpeles may receive more than two billion dollars, after the elimination of funds.

According to a source close to the case, the judicial system and the Trustee consider changing the status of the proceedings on the civil rehabilitation. It was recently reported about the owner of the website Mtgoxprotest.com Colin Burgess (Kolin Burges), who has said many times that he is not happy with the way the bankruptcy case. Burgess is a member of the group of creditors who filed the petition in court, together with Daniel Kel’man (Daniel Kelman), Josh Jones (Josh Jones) and an unnamed applicant. The team has developed a «Charter» of creditors and «road map» of how they are making a civil rehabilitation.

«He is a founder of the Committee to move the business off the ground and any part of the member voting will be discussed during consultation period — Kim Nilsson (Kim Nilsson) will be a counselor,» explains Burgess. «During this consultation period we will appoint more members of the Committee — this will be done with the participation of creditors and with the aim of diversifying interests.»

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