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MtGox Creditors Began Voting On Rehabilitation Plan On May 31

Anna Martynova

On May 31, the creditors of the bitcoin exchange MtGox began voting on a rehabilitation plan for asset allocation, which was approved by a Tokyo court in February, according to a document released by MtGox trustee Nobuaki Kobayashi. On March 24, the lists of voting creditors were established. Creditors must vote online by October 8th.

A minimum threshold of the vote is 50%. It is required to approve the proposed rehabilitation plan. According to the rehabilitation plan for the allocation of MtGox's assets, the priority will be creditors, to whom the exchange must compensate for losses in fiat currency and small amounts.

Claiming creditors will receive the assets in their original deposited form, if they were fiat currencies, BTC or BCH. Other assets will be liquidated and then paid to creditors in fiat currency. Recall that in 2014, 850,000 BTC were stolen from the exchange. Since then, creditors have been awaiting a decision on compensation.

Image: Crypto Economy

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