• Mt. Gox creditors are now able to select and register for compensation from the company until March 10, 2023 (Japan time).
• This extension also affects the distribution deadline, as creditors now have to wait until September 30 to receive compensation.
• The extension was approved by the court after a request from the exchange’s trustee Nobuaki Kobayashi.
The defunct cryptocurrency exchange Mt. Gox has granted its creditors more time to select and register how they wish to receive compensation from the company. According to a document from the exchange’s trustee Nobuaki Kobayashi, the registration deadline, which was initially set as January 10, 2023, has been extended to March 10 (Japan time) after receiving approval from the court.
The extension also affects the distribution deadline as Mt. Gox creditors now have to wait until September 30 to receive compensation. This means that creditors have an additional two months to decide how they wish to receive their funds. It is worth noting that the deadline for filing a claim of damages remains unchanged and is still set at March 22.
The decision to extend the registration deadline was taken in order to give Mt. Gox creditors more time to make an informed decision. It is also a way to ensure that the process is completed in a fair and transparent manner. In addition, it will allow creditors to obtain more information about the process and their rights before making a decision.
The details of the extended registration deadline were announced in a document from the exchange’s trustee Nobuaki Kobayashi. According to the document, the Rehabilitation Trustee has obtained permission from the court to change the deadline for the Selection and Registration to March 10, 2023 (Japan time).
Mt. Gox creditors are now able to submit their applications until the new deadline of March 10. Upon submission of an application, the creditor will be asked to provide details about the type of compensation they wish to receive, the amount and any other relevant information.
Once the registration deadline has passed, the Rehabilitation Trustee will assess the applications and proceed with the distribution of the funds to the creditors. It is expected that the Rehabilitation Trustee will begin the distribution process by the end of March and the funds should be received by creditors by September 30.
The extension of the registration deadline is a welcome development for Mt. Gox creditors as it gives them more time to make an informed decision about how they wish to receive their funds. It is also a sign that the Rehabilitation Trustee is taking the process seriously and is trying to ensure that the process is conducted in a fair and transparent manner.