MTGOX’s rehabilitation proceedings face further delay as Nobuaki Kobayashi, the Rehabilitation Trustee of the ill-fated Bitcoin exchange, has secured further postponement to the deadline for the submission of the rehabilitation plan.

In a notice posted today, Nobuaki Kobayashi said he is currently formulating the rehabilitation plan, but as there are matters that require closer examination, it has become necessary to extend the plan submission deadline.

In light of the foregoing, the Rehabilitation Trustee filed a motion to seek an extension of the submission deadline of the rehabilitation plan at the Tokyo District Court. On October 14, 2020, the Court issued an order to extend the submission deadline for the rehabilitation plan to December 15, 2020.

Let’s recall that 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.