A number of users once a part of the Mt. Gox exchange have reported received email message from Mt. Gox with an “Announcement of Commencement of Bankruptcy Proceedings.”
This aligns with an update dated 21 May posted on the Mt. Gox website, which sheds some light on some upcoming dates with regard to the liquidation process.
For starters, November 28th, 2014 has been listed as the cut-off date for filing proof of bankruptcy claims.
Separately, July 23rd, 2014 (1:30 PM local time) will mark the meeting for the reporting on the status of assets. That takes place at the Tokyo District Courtroomfor Creditors’ Meeting no. 1.
According to the announcement:
“Creditors are not obligated to attend the creditors’ meeting, and the creditors will not be disqualified from the liquidating distribution due to their absence from creditors’ meetings. It is planned that the content of the report at the creditors’ meetings will be disclosed on the website ( http://www.mtgox.com/).”
Scores of users are eagerly awaiting more information — many of whom just want to know whether or not they’ll ever see any of the money they’ve lost ever again.
The company collapsed earlier this year following a long process of effectively keeping investors out of the loop. The company eventually halted al withdrawals and trading — later stating they lost over 700,000 bitcoins worth hundreds of millions of dollars.
Later, the company seemingly pulled 200,000 out from under the couch, will little explanation offered aside from the fact it was “found” in an account the company thought had no funds within.
A US-based group, Sunlot Holdings, is hoping to purchase what’s left of Mt. Gox in order to resurrect the exchange — once the world’s largest (and the oldest). The plan (publicized at SaveGox.com) is to resume business and repay customers who lost money.