The site of bankrupt Mt. Gox start receiving creditor's claims for refund after court ordered to begin the civil rehabilitation of the notorious cryptocurrency exchange. Deadline for claims is set on 22 October.

The Tokyo District Court in June 2018 refused to liquidate the bankrupt Mt. Gox and ordered to begin the process of civil rehabilitation, which is expected to begin in early 2019. That means that the bankruptcy trustee of Mt. Gox will no longer sell bitcoins stored on the accounts of the exchange. It also means that former creditors of the crypto exchange will be able to claim reimbursement of their funds, stored on Mt. Gox purses after the exchange ceased operations.

 

 

A special online system is launched on the site of Mt. Gox to receive claims from former creditors. Applications for refunding are also accepted by mail. Those who choose this option to file for reimbursement need to download the application form from the site, fill it in and send it along with other documents to the address of Mt. Gox in Tokyo. These methods can only be used by individual customers. For corporate creditors, the process of applying for refund will be launched later.

"As with the bankruptcy proceedings, the Rehabilitation Trustee has built a system on which users of MTGOX’s Bitcoin exchange can file proofs of rehabilitation claim with respect to the claims for return of cryptocurrency and money against MTGOX on the website. By using the System, users around the world can, without using time or money, easily participate in the Civil Rehabilitation Proceedings through filing proofs of Exchange-Related Rehabilitation Claim in accordance with the Civil Rehabilitation Act of Japan and other laws and ordinances," the official statement reads.

The last date for refiling claims for refunding, according to the decision of the District Court of Tokyo, is 22 October 2018 for Tokyo time (this must be taken into account by former users of Mt. Gox from Western countries).