According to a letter from MtGox trustee Nobuaki Kobayashi, the Tokyo District Court has allowed the base, early lump sum and intermediate repayment dates to be postponed until October 31, 2024. It was previously announced that creditors’ losses would be reimbursed by October 31 of this year. However, Kobayashi noted that the trustee could not complete the payments by the agreed date.
Lenders who provide details to the MtGox trustee could receive payments as early as the end of 2023. The schedule may be changed depending on the circumstances and specific repayment dates, which may also lead to delays in payments. Creditors who had not yet filed for damages were asked to complete paperwork before making payments.
MtGox creditors have been waiting for repayment for almost a decade, and the payment deadline has already been postponed several times. In the long term, debt repayment may affect the price of Bitcoin as creditors begin to sell or exchange the received crypto assets. Former MtGox traders have long feared that payments to victims of hacking would collapse the Bitcoin market. Therefore, a delay in implementing the rehabilitation plan could contribute to Bitcoin’s bullish trend.
Read the detailed article on Bits.media for details of MtGox bankruptcy and what a rehabilitation plan can give creditors.
Source: Bits
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