Mt. Gox Trustee Takes Final Action on Creditors Claims

After a long wait, the doomed crypto exchange Mt. Gox is finally moving towards a settlement with its creditors.
Nobuaki Kobayashi, the rehabilitation trustee of the defunct exchange, has announced on March 19th that he has “approved or disapproved” the creditors’ claims for refund and within the next few days he will notify the results.

The announcement also stated that Kobayashi had already submitted “a statement of approval or disapproval” to the Tokyo District Court.
“On March 15, 2019, the Rehabilitation Trustee approved or disapproved rehabilitation claims regarding MTGOX Bitcoin exchange users’ rights to make claims against MTGOX for return of cryptocurrency and/or cash […] and submitted to the Tokyo District Court a statement of approval or disapproval,” the announcement noted.

I bought some Bitcoin on MtGox in 2013 because I thought it was a great hedge against inflation/gov spending. After 6 years of theft, bankruptcy, a crypto boom and bust, and tons of emails and postcards in a combination of Japanese and English it looks like I’m getting some back!

— Cal Spears (@CalSpears)

In addition, the creditors who failed to file their rehabilitation before the deadline will still have their in accordance with the Civil Rehabilitation Act of Japan.
Once one of the largest Bitcoin exchanges, the Japanese crypto exchange came down to its peril after an attack in 2011 which led to the theft of 850,000 BTC then worth around $460 million. This finally led to the collapse of the exchange in early 2014.
According to last year’s report, with the collapsed exchange.
Available Funds to Settle
Recently, Kobayashi also provided details of the current balance of crypto exchange available for settlement.
As per the shared figures, JPY 69,553,086,521 ($629,594,540) in cash is available with the rehabilitation trustee along with 141,686.35 BTC and 142,846.35 BCH.
However, the trustee document detailed that JPY 15,894,588,396 ($143,881,490) has been entrusted as the measure to secure the interests of bankruptcy creditors which includes the various expense endured by the trust.
A Controversial Figure
The rehabilitation trustee, himself, is a controversial figure in the crypto community. He was previously alleged to in the open market for liquidation, dragging down the value of the digital assets.
Meanwhile, the founder and ex-CEO of the ruined exchange, Mark Karpeles, was recently for manipulating trading-related data in the exchange. The court, however, acquitted him for the charges of embezzlement.