Mt. Gox Civil Rehabilitation Claim Opens

Users of Mt. Gox’s Bitcoin exchange can now file proofs of rehabilitation claim with respect to the return of cryptocurrency and money, the Japanese exchange says aas it announced the commencement of the proceedings on Thursday Aug. 23.

The exchange collapsed in 2014 with 850,000 bitcoins recorded lost. The filing would be done through an online system that enables the users of the Bitcoin exchange to file a proof of rehabilitation claim electronically based on Mt. Gox’s civil rehabilitation proceedings (Tokyo District Court; Case 2017 (sai) No. 35.

The procedure seems to have changed from bankruptcy to civil rehabilitation after the Tokyo District Court issued an order of the commencement of its proceedings for Mt. Gox in a Jun. 2018. The previously ongoing bankruptcy proceedings were stayed hence the need for those who have submitted a claim earlier to do it again. Those who have lost their login credentials may have to make their claims offline. Unlike filing proofs of rehabilitation claim using the online system, filing proofs of claim with the offline method requires time and money and it has no particular advantages.

Only users who have the status of rehabilitation creditor are eligible to file a proof of claim for return of cash and/or Bitcoin or other cryptocurrencies on the online system until October 22, 2018 (Japan time) as set by the Tokyo District
Court .

The statement from the defunct exchange says:

Though the planned deadline for the Rehabilitation Trustee to submit a statement of approval or rejection to the court is Jan. 24, 2019, a definite date is yet to be set for users to be informed of whether a filed claim has been approved or rejected.

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