MtGox trustee obtains further extension of rehabilitation plan submission deadline

Maria Nikolova

The Tokyo District Court has issued an order to extend the submission deadline for the rehabilitation plan to October 15, 2020.

MtGox’s rehabilitation trustee Nobuaki Kobayashi has posted a brief notice informing the customers of the ill-fated Bitcoin exchange that there has been a change to the timetable for the submission of the rehabilitation plan.

The Rehabilitation Trustee is currently formulating the rehabilitation plan, but as there are matters that require closer examination, it has become necessary to extend the plan submission deadline. Due to this, the Rehabilitation Trustee filed a motion to seek an extension of the submission deadline of the rehabilitation plan at the Tokyo District Court, and, on June 30, 2020, the Tokyo District Court issued an order to extend the submission deadline for the rehabilitation plan to October 15, 2020.

Let’s recall that, on February 14, 2020, the Tokyo District Court issued an order to set a period for conducting a special investigation to examine new proofs of rehabilitation claims and submission deadline for the rehabilitation trustee of the statement of acceptance or rejection for the special investigation.

As FinanceFeeds has reported, the account balance that the Rehabilitation Trustee has secured as of September 24, 2019 is JPY 69,397,600,922, which is about JPY 155,000,000 lower than the balance of JPY 69,553,086,521 reported at the 2nd creditors’ meeting under the Civil Rehabilitation Proceedings that took place on March 20, 2019.

However, among the account balance that has been secured, the Rehabilitation Trustee has established the trust as the measure to secure the interests of bankruptcy creditors and entrusted the amount of JPY 15,894,665,473 (including an amount expected to be appropriated for various expenses of the trust) in the trust.

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