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Mt Gox Trustee Extends Deadline to File Rehabilitation Plan
Nobuaki Kobayashi, the trustee for crypto exchange Mt Gox, has extended the deadline by which he must file a civil rehabilitation plan.
A looming deadline for the trustee of Mt Gox to file a civil rehabilitation plan has been pushed to the end of October, an update posted to the defunct bitcoin exchange's website said Thursday.
Nobuaki Kobayashi, the trustee, said in the update that though he originally intended to file a plan by April 26, he needs more time due to the number of rejected claims. The Tokyo District Court, which is overseeing the case, approved an extension request, and Kobayashi now intends to file a rehabilitation plan by Oct. 28, 2019.
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The April 26 deadline was first announced last month, when the trustee said he had finalized approvals and rejections of the various claims submitted to the exchange. At the time, he said claimants would be notified of his decision in the coming weeks.
Thursday's notice said that "a large amount of rehabilitation claims" that were either fully or partially rejected, but may still be subject to "claim assessment procedures."
"Accordingly, it is not possible at this moment to make appropriate provisions in a rehabilitation plan on modifications of the rights of the rehabilitation claims, repayment methods, and appropriate measures for the undetermined rehabilitation claims and therefore to submit a rehabilitation plan by April 26, 2019," the update said.
The Tokyo court will make a determination on each claim, which is expected to take some time.
Mt Gox image via Shutterstock
Nikhilesh De
Nikhilesh De is CoinDesk's managing editor for global policy and regulation, covering regulators, lawmakers and institutions. He owns < $50 in BTC and < $20 in ETH. He won a Gerald Loeb award in the beat reporting category as part of CoinDesk's blockbuster FTX coverage in 2023, and was named the Association of Cryptocurrency Journalists and Researchers' Journalist of the Year in 2020.
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