Mt. Gox: A Step Towards Being Saved by Sunlot

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Sunlot Holdings Ltd. are the company behind the SaveGox campaign: “Rehabilitate, Don’t Liquidate MtGox — Make Customers Whole.”  The campaign is not just some idea either, Sunlot Holdings reached a critical point yesterday.

Yesterday:

“Chicago, U.S. District Judge Gary Feinerman granted the initial approval of the terms of the deal, which would settle a class-action lawsuits for fraud and other charges brought in March by U.S. customers against the Tokyo exchange and others, including former Marketing Chief Gonzague Gay-Bouchery and Gox Founder Jed McCaleb.”

Now the approved plan can be “pitched to the trustee overseeing Mt. Gox’s bankruptcy in Japan.”

The approved plan would allow the 127,000 affected Gox users to immediately get a proportional claim of Mt Gox’s current assets, receive 16.5% of equity in Sunlot and get paid dividends from those shares. The users would also benefit if shares Sunlot were bought out or offered publicly.

Sunlot Holdings believes that they can turn all the negative publicity received from Mt. Gox’s downfall and show the resiliency of the Bitcoin community. Sunlot would use all new code for the exchange to make sure any security breaches wouldn’t happen again.

Brock Pierce, a financial partner of Sunlot Holdings Ltd, was recently named to the Bitcoin Foundation’s Board.

[textmarker color=”C24000″]Source[/textmarker] Sunlot