MtGox Rehabilitation Trustee prepares to make repayments
Nobuaki Kobayashi, the Rehabilitation Trustee of ill-fated Bitcoin exchange MtGox, is currently preparing to make repayments (“Repayments”) in accordance with the rehabilitation plan which was approved by the Tokyo District Court last year.
To ensure safe and secure Repayments, the Rehabilitation Trustee, in accordance with the provisions of the Rehabilitation Plan, and with the permission of the Court, has set a period during which the assignment, transfer or succession, provision as collateral, or disposition by other means of rehabilitation claims are prohibited
The Restriction Reference Period commences on September 15, 2022 (Japan time), with the end date to coincide with the Base Repayment Deadline.
During the Restriction Reference Period, the Rehabilitation Trustee will cease accepting applications for claim transfer procedures through the Rehabilitation Claim Filing System, applications for claim transfer procedures sent by email to the Rehabilitation Trustee’s email address for offline claim transfer procedures, and all other applications for claim transfer procedures.
If you submit a notice of transfer of rehabilitation claims to the Rehabilitation Trustee during the Assignment, etc. Restriction Reference Period, the Rehabilitation Trustee will not be able to determine those to whom the Repayment should be made, which may interfere with the safe and secure Repayment of rehabilitation claims. Therefore, during the Assignment, etc. Restriction Reference Period, the Rehabilitation Trustee plans to suspend access to the System for transferees and the transferors of rehabilitation claims.
As a result, rehabilitation creditors will be unable to choose a Repayment method or register payee information in accordance with the Rehabilitation Plan, and payee information already registered by the transferor will, in principle, be deleted as invalid. This may result in rehabilitation creditors being unable to receive their preferred Repayments, the Repayment date being delayed significantly compared to other rehabilitation creditors, or at worst, the Repayment amount may be deposited with the Tokyo Legal Affairs Bureau in accordance with laws and regulations.
In no event will the Rehabilitation Debtor or the Rehabilitation Trustee be liable to rehabilitation creditors or any other persons for any damages or losses arising or likely to arise from or in connection with any notice of transfer of rehabilitation claims submitted to the Rehabilitation Trustee given during the Assignment, etc. Restriction Reference Period.
To ensure safe and secure Repayments and to avoid unexpected disadvantages, the Trustee asks that you refrain from transferring rehabilitation claims during the Assignment, etc. Restriction Reference Period.