Nobuaki Kobayashi, trustee of the notorious Japanese Bitcoin (BTC) exchange Mt. Gox, has announced Wednesday, April 3, that all creditors who had filed rehabilitation claims have received decisions.
In late March, Kobayashi had announced that the processing of filings had come to an end. According to the newly published paper dubbed “Questions & Answers regarding Approval or Disapproval,” the decisions have already been sent to users’ emails.
The document provides detailed instructions for the applicants who had previously filed rehabilitation claims. In case one disagrees with the decision, an application for the assessment of the claim can be filed with the court.
Kobayashi also warns that the timing and method of payment have not yet been determined, and that the details will be revealed later in a rehabilitation plan.
As Contelegraph previously wrote, roughly 24,000 creditors were purportedly affected by Mt. Gox’s 2011 hack and subsequent collapse in early 2014, which resulted in the loss of 850,000 BTC (valued at roughly $460 million at the time.)
Kobayashi, a Japanese lawyer who was appointed to oversee the civil reimbursement process, claimed that he liquidated almost 26 billion yen (about $230 million at the time) in Bitcoin and Bitcoin Cash (BCH) over four months as of early March 2018.
Due to these liquidations, the crypto community dubbed Kobayashi “Tokyo’s Bitcoin Whale,” as the transactions allegedly affected the crypto markets. In June 2018, when civil rehabilitation proceedings began, the liquidations were formally halted.
This post was originally published on www.cointelegraph.com