Mt. Gox Pushes Back Repayment Deadline by One Year

Mt. Gox, the cryptocurrency exchange that failed in 2014, has pushed back its repayment deadline by one year. The new deadline is now October 31, 2025. This change comes from a decision by the trustee, who is in charge of the repayment process for creditors. Many creditors haven’t received their repayments because of incomplete procedures or issues during the repayment process.

The trustee has announced that certain types of repayments are mostly complete. This includes base repayments, early lump-sum payments, and mid-term repayments. These were paid to creditors who successfully completed the required procedures. But many creditors are still waiting. Some have not finished the required procedures to get their money, while others have had problems that have slowed things down.

Because of these ongoing issues, the trustee asked for a court order to delay the repayment further. The court approved the extension, letting the trustee fix other challenges as required. This target was initially set for October 31, 2024, but has been pushed back to the end of next year, October 31, 2025.

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The trustee wants to repay creditors as much as possible in this extended period. However, the process has been challenging, and most creditors have had problems with payment delays. The extension will give more time to address these problems and ensure that creditors can receive their funds.

Creditors Urged to Complete Procedures

Creditors who have not yet received repayments are urged to complete the necessary procedures. They can log into Mt. Gox online rehabilitation claim filing system to check their repayment status. The system also provides an inquiry form for any questions related to the process. Creditors are encouraged to use this system when making inquiries to ensure faster responses.

Mt. Gox has also issued a notice for creditors with outstanding claims. Creditors can submit inquiries through the Mt. Gox Online Rehabilitation Claim Filing System, available on the platform’s website.