MtGox trustee tries to calm down claimants over slow rehabilitation claims filing procedure

Maria Nikolova

The Office of the Rehabilitation Trustee is receiving a large volume of rehabilitation claim forms, and it will take some time to process the paperwork, the MtGox trustee explains.

There is about a month left before the deadline to submit proofs of rehabilitation claim to MtGox’s trustee Nobuaki Kobayashi, and the tensions among clients of the ill-fated Bitcoin exchange are on the rise. Many of them – those who have chosen the offline method to file their rehabilitation claims rather than the online method, are now worried that they may be put at disadvantage over the other claimants.

Today, the Q&A section on MtGox’s website was updated, with the trustee providing more explanations about procedural specificities.

In particular, some claimants have been worried that they have sent a proof of rehabilitation claim form/a form of amendment to proof of rehabilitation claim by the Offline Method, to the Office of the Rehabilitation Trustee, but they have not received a notice of receipt yet. They wonder when they might receive a confirmation of receipt. Concerns about any disadvantage compared to other creditors due to the delay in receiving the confirmation of receipt have also been voiced.

The trustee explains that the Office of the Rehabilitation Trustee will send an email confirming the receipt of the fling once it has completed the necessary paper work.

The Office of the Rehabilitation Trustee in the Civil Rehabilitation Proceedings is receiving a large volume of proofs of rehabilitation claim forms, and it will take some time to process the paperwork.

Apparently, some patience is required. Furthermore, if the claimants send a proof of rehabilitation claim form which contains necessary information and it reached at the Office of the Rehabilitation Trustee by the end of the period for filing rehabilitation claims (i.e., no later than October 22, 2018 (Japan Standard Time)), there is set to be no disadvantage in the Civil Rehabilitation Proceedings due to the delay in receiving the confirmation from the Rehabilitation Trustee.

Let’s recall that some of the creditors of MtGox filed a petition for commencement of civil rehabilitation proceedings against the Exchange with the Tokyo District Court on November 24, 2017. The petition was heard on June 22, 2018, and the Tokyo District Court issued an order of the commencement of civil rehabilitation proceedings for MtGox. As a result, the previously ongoing bankruptcy proceedings were stayed. Due to the stay of the bankruptcy proceedings, MtGox bankruptcy claims filing system has been temporarily suspended.

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