Mt. Gox crypto exchange has extended the deadline for creditors to register claims by one month. According to a notice released by the exchange, the deadline has been moved from March 10 to April 6 to give creditors more time to submit their claims. Furthermore, the previously scheduled September 30 distribution deadline has been pushed back to October 31, 2023.
According to the company, the rehabilitation trustee obtained court permission to change the deadline due to several circumstances, including the progress of rehabilitation creditors in the registration and selection processes.
🚨BREAKING: MT GOX REGISTRATION DEADLINE PUSHED FROM MARCH 10TH TO APRIL 6
DISTRIBUTION DEADLINE PUSHED BACK FROM SEPTEMBER 30TH TO OCTOBER 31ST
— Craig B (@altbender0x) March 9, 2023
However, the company cautioned that further deadline extensions might become impossible as it wants to repay rehabilitation creditors as soon as possible unless there are unavoidable circumstances.
The company also clarified that rehabilitation creditors who did not complete the selection and registration process by April 6, 2023, would not be eligible for payment. They would then be required to bring the necessary documentation to the head office or another designated location to receive payment in cash or any other form of payment, such as remittance through a bank, fund transfer, or cryptocurrency exchange.
Creditors have patiently waited for reimbursement since the exchange platform suffered a security breach in 2014. The largest creditor of the bankrupt Mt. Gox crypto exchange, Mt. Gox Investment Fund, has decided to accept an early payout in Bitcoin rather than wait for the conclusion of all legal proceedings. They will be due for payment on the newly set date of October 2023 rather than waiting nine years and receiving only 90% of what is owed.
The extension of the deadline date also allows creditors to choose between waiting nine years to receive full payment or receiving 90% of what they are owed, just like Mt. Gox Investment Fund did.
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