Mt. Gox Extends Deadline for Rehabilitation Trustee Registration and Repayment
The Japanese-base Bitcoin exchange platform Mt. Gox has extended the deadline for registration and repayment of the Rehabilitation trustee plan following the court order. A statement issued by Mt. Gox trustee member Nobuaki Kobayashi on March 9 revealed that the creditors have till April 6 to complete their registration process.
In his address, Kobayashi argued that after the April 6 deadline, the non-compliant creditors would be eliminated from the repayment plan. He stated that the initial repayment dates have also been rescheduled to start on September 30 to October 31.
Scope of the Mt. Gox Rehabilitation Plan
In August last year, the Mt. Gox team developed plans to recover the creditors’ assets that impacted the launch of the rehabilitation program. The matter was submitted to a district court in Tokyo to assist the creditor in receiving compensation.
The Mt.Gox repayment plan has created heated debate in the crypto world, creating mixed reactions among creditors. Following this, the legislators’ decisions compelled the Mt. Gox team to create an online portal where creditors can submit necessary information for repayment.
The team agreed to adopt different payment methods to expedite the repayment process. The Mt. Gox creditors will be paid through fiat currencies, crypto payments and wire transfers.
Besides the proposed payment methods, the Mt. Gox Investment Fund demanded to be paid using the largest crypto asset Bitcoin (BTC). Whereas some creditors plan to hold the crypto asset, they will receive in September from the Mt. Gox repayment program.
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