Nobuaki Kobayashi, the Rehabilitation Trustee of MTGOX, today provided an update regarding the rehabilitation proceedings concerning the ill-fated Bitcoin exchange.

Let’s recall that the Rehabilitation Trustee filed a revised draft rehabilitation plan with the Tokyo District Court on February 15, 2021, and a written revision to schedules (lists of allowed and disputed rehabilitation claims as of the last day of March 2020) of the Draft Rehabilitation Plan on February 19, 2021.

On February 16, 2021, an examiner filed an examination report with the Tokyo District Court, stating that there were no grounds for disapproving the Draft Rehabilitation Plan.

Following these proceedings, on February 22, 2021, the Tokyo District Court made an order to refer the Draft Rehabilitation Plan to a resolution. Rehabilitation creditors will be asked to vote to agree or disagree with the Draft Rehabilitation Plan.

In November 2017, some of the creditors of MTGOX Co., Ltd. filed a petition for commencement of civil rehabilitation proceedings against the Exchange with the Tokyo District Court. The petition was heard, and at 5:00 p.m. on June 22, 2018, the Tokyo District Court issued an order of the commencement of civil rehabilitation proceedings for MTGOX.

As a result, the previously ongoing bankruptcy proceedings were stayed. In addition, simultaneously with the order of the commencement of civil rehabilitation proceedings, an administration order was issued by the Tokyo District Court, and Nobuaki Kobayashi was appointed Civil Rehabilitation Trustee.

The power and authority to administer and dispose of MTGOX’s assets is still vested exclusively in Nobuaki Kobayashi. He implements the civil rehabilitation proceedings, including the administration of MTGOX’s assets and the investigation of claims, subject to the Tokyo District Court’s supervision.