Mt. Gox trustee AKA 'Tokyo’s Bitcoin Whale' extends deadline to December 26

24 Nov, 2018
by Joeri Cant
News
Mt. Gox trustee AKA 'Tokyo’s Bitcoin Whale' extends deadline to December 26

Trustee Nobuaki Kobayashi announced that he is making efforts to extend the deadline for the civil rehabilitation claims for the now defunct Japan-based Bitcoin exchange Mt. Gox, until December 26, 2018.

Mt Gox is currently liable to around 127,000 creditors. Users of the exchange had to file for insolvency back in 2015, in the follow up of the 850,000 stolen Bitcoins back in February 2014.

In 2017 the creditors were asked to file again for a civil rehabilitation. Claimants could no longer email applications and many were resorting to sending claims through the post or even travelling directly to the offices in order to meet the deadline of October 22, 2018.

The current terms for the extension to creditors appears to allow creditors who are yet to submit their claims to do so on or before the new date of 26 December.

'If filings are delayed for reasons not attributable to creditors, proofs of rehabilitation claims filed after the deadline may be acceptable.', the document reads.

However, the decision to extend the deadline is still subject to the rulings of the court.

Kobayashi does promise to make efforts to appeal to the court to accept the proofs of rehabilitation claims filed after the original date.

Kobayashi earned the title of 'Tokyo’s Bitcoin Whale' because of his crypto sell-offs which had a negative effect on markets. He then pledged to cease the liquidations when civil rehabilitation proceedings began in June of this year.

Related: Claims rush in as Mt Gox settlement deadline approaches

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Read more about: Mt. Gox Bitcoin (BTC)

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