Topic: Important. Gox, have not filed for bankruptcy - page 3. (Read 4561 times)
On a side note, Gox filing for bankruptcy protection has not sent btc prices down. I take it as a good signal. Mt.Gox disaster (for which hopefully many people will end up in jail) was not the nuclear bomb to bitcoin that many people were expecting.
The Japanese legal system is not the US legal system.
Had rehabilitation (restructuring or trading out) been the objective of the filing, it's unlikely that the lawyer would have used the term bankruptcy at all (bankruptcy implies liquidation in Japan).
http://www.bingham.com/Publications/Files/2012/02/A-Practical-Guide-to-Japanese-Insolvency-Procedures
The immediate staying of legal actions by creditors tends to be the most immediate effect of insolvencies in general. It doesn't imply that there's any hope of a company being restructured.
Until someone gets hold of the filings and translates them, assumptions about the possibility of MtGox seeking to/being able to restructure are pure speculation.
Had rehabilitation (restructuring or trading out) been the objective of the filing, it's unlikely that the lawyer would have used the term bankruptcy at all (bankruptcy implies liquidation in Japan).
http://www.bingham.com/Publications/Files/2012/02/A-Practical-Guide-to-Japanese-Insolvency-Procedures
The immediate staying of legal actions by creditors tends to be the most immediate effect of insolvencies in general. It doesn't imply that there's any hope of a company being restructured.
Until someone gets hold of the filings and translates them, assumptions about the possibility of MtGox seeking to/being able to restructure are pure speculation.
There have been a lot of bankruptcy protection cases in Japan that have been specifically for restructuring and trading out of trouble
Elpida did it
http://www.ft.com/cms/s/2/db64c462-6127-11e1-8a8e-00144feabdc0.html#axzz2ubyBpEyo
Japanese Airlines did it
http://news.bbc.co.uk/1/hi/8466997.stm
From what I can gather bankruptcy protection in Japan is just the same as US / EU
I just think everyone should wait until the actual filings become public before making any optimistic assumptions about this announcement. The financial media will no doubt go through the filings with a fine tooth comb and will certainly report on whether or not restructuring was even mentioned as a possibility in the filings.
Agree, just trying to point out that there is a lot of misinformation flying around about what has happened. Just trying to give a little balance.
I just think everyone should wait until the actual filings become public before making any optimistic assumptions about this announcement. The financial media will no doubt go through the filings with a fine tooth comb and will certainly report on whether or not restructuring was even mentioned as a possibility in the filings.
My gut feeling is one of disappointment that MtGox will potentially gain more time to trade and leave people hanging with the glimmer of hope that they will ever see a cent or satoshi back. I feel like it would be much better for us all if there was a clean break. The Japanese legal system is not the US legal system.
Had rehabilitation (restructuring or trading out) been the objective of the filing, it's unlikely that the lawyer would have used the term bankruptcy at all (bankruptcy implies liquidation in Japan).
http://www.bingham.com/Publications/Files/2012/02/A-Practical-Guide-to-Japanese-Insolvency-Procedures
The immediate staying of legal actions by creditors tends to be the most immediate effect of insolvencies in general. It doesn't imply that there's any hope of a company being restructured.
Until someone gets hold of the filings and translates them, assumptions about the possibility of MtGox seeking to/being able to restructure are pure speculation.
Had rehabilitation (restructuring or trading out) been the objective of the filing, it's unlikely that the lawyer would have used the term bankruptcy at all (bankruptcy implies liquidation in Japan).
http://www.bingham.com/Publications/Files/2012/02/A-Practical-Guide-to-Japanese-Insolvency-Procedures
The immediate staying of legal actions by creditors tends to be the most immediate effect of insolvencies in general. It doesn't imply that there's any hope of a company being restructured.
Until someone gets hold of the filings and translates them, assumptions about the possibility of MtGox seeking to/being able to restructure are pure speculation.
There have been a lot of bankruptcy protection cases in Japan that have been specifically for restructuring and trading out of trouble
Elpida did it
http://www.ft.com/cms/s/2/db64c462-6127-11e1-8a8e-00144feabdc0.html#axzz2ubyBpEyo
Japanese Airlines did it
http://news.bbc.co.uk/1/hi/8466997.stm
From what I can gather bankruptcy protection in Japan is just the same as US / EU
I just think everyone should wait until the actual filings become public before making any optimistic assumptions about this announcement. The financial media will no doubt go through the filings with a fine tooth comb and will certainly report on whether or not restructuring was even mentioned as a possibility in the filings.
The Japanese legal system is not the US legal system.
Had rehabilitation (restructuring or trading out) been the objective of the filing, it's unlikely that the lawyer would have used the term bankruptcy at all (bankruptcy implies liquidation in Japan).
http://www.bingham.com/Publications/Files/2012/02/A-Practical-Guide-to-Japanese-Insolvency-Procedures
The immediate staying of legal actions by creditors tends to be the most immediate effect of insolvencies in general. It doesn't imply that there's any hope of a company being restructured.
Until someone gets hold of the filings and translates them, assumptions about the possibility of MtGox seeking to/being able to restructure are pure speculation.
Had rehabilitation (restructuring or trading out) been the objective of the filing, it's unlikely that the lawyer would have used the term bankruptcy at all (bankruptcy implies liquidation in Japan).
http://www.bingham.com/Publications/Files/2012/02/A-Practical-Guide-to-Japanese-Insolvency-Procedures
The immediate staying of legal actions by creditors tends to be the most immediate effect of insolvencies in general. It doesn't imply that there's any hope of a company being restructured.
Until someone gets hold of the filings and translates them, assumptions about the possibility of MtGox seeking to/being able to restructure are pure speculation.
There have been a lot of bankruptcy protection cases in Japan that have been specifically for restructuring and trading out of trouble
Elpida did it
http://www.ft.com/cms/s/2/db64c462-6127-11e1-8a8e-00144feabdc0.html#axzz2ubyBpEyo
Japanese Airlines did it
http://news.bbc.co.uk/1/hi/8466997.stm
From what I can gather bankruptcy protection in Japan is just the same as US / EU
The Japanese legal system is not the US legal system.
Had rehabilitation (restructuring or trading out) been the objective of the filing, it's unlikely that the lawyer would have used the term bankruptcy at all (bankruptcy implies liquidation in Japan).
http://www.bingham.com/Publications/Files/2012/02/A-Practical-Guide-to-Japanese-Insolvency-Procedures
The immediate staying of legal actions by creditors tends to be the most immediate effect of insolvencies in general. It doesn't imply that there's any hope of a company being restructured.
Until someone gets hold of the filings and translates them, assumptions about the possibility of MtGox seeking to/being able to restructure are pure speculation.
Had rehabilitation (restructuring or trading out) been the objective of the filing, it's unlikely that the lawyer would have used the term bankruptcy at all (bankruptcy implies liquidation in Japan).
http://www.bingham.com/Publications/Files/2012/02/A-Practical-Guide-to-Japanese-Insolvency-Procedures
The immediate staying of legal actions by creditors tends to be the most immediate effect of insolvencies in general. It doesn't imply that there's any hope of a company being restructured.
Until someone gets hold of the filings and translates them, assumptions about the possibility of MtGox seeking to/being able to restructure are pure speculation.
ok now the BS machine is in over drive
people who have lost their funds may as well start listening to me
So many legal wrongs here it is not funny,
Does he have the coin or not ? what are the official Mtgox ADDRESSES
what is the balance of his Bank accounts
people who have lost their funds may as well start listening to me
So many legal wrongs here it is not funny,
Does he have the coin or not ? what are the official Mtgox ADDRESSES
what is the balance of his Bank accounts
The fact is no one, including you, knows the situation. The only fact is that Gox have claimed they believe they can restructure and become solvent again.
This may or may not be true, any statements of fact whether it is true or not here are not fact but supposition.
I have searched official Mtgox addresses so I do have proof
I have watched for years the collusion between this forum and Gox
its a scammers paradise, have you ever heard of TF these guys
the forum mods backed him up like a pharaoh
even an Australian newpaper reported a story on TF without even reading
his posts first
You have proof they have some coin. That's it.
You don't have proof of their asset v liabilities balance sheet and what and how their current financial situation is.
A wise man would wait and see what happens and what information comes out, not jump to conclusions that he knows everything already.
ok now the BS machine is in over drive
people who have lost their funds may as well start listening to me
So many legal wrongs here it is not funny,
Does he have the coin or not ? what are the official Mtgox ADDRESSES
what is the balance of his Bank accounts
people who have lost their funds may as well start listening to me
So many legal wrongs here it is not funny,
Does he have the coin or not ? what are the official Mtgox ADDRESSES
what is the balance of his Bank accounts
The fact is no one, including you, knows the situation. The only fact is that Gox have claimed they believe they can restructure and become solvent again.
This may or may not be true, any statements of fact whether it is true or not here are not fact but supposition.
I have searched official Mtgox addresses so I do have proof
I have watched for years the collusion between this forum and Gox
its a scammers paradise, have you ever heard of TF these guys
the forum mods backed him up like a pharaoh
even an Australian newpaper reported a story on TF without even reading
his posts first
ok now the BS machine is in over drive
people who have lost their funds may as well start listening to me
So many legal wrongs here it is not funny,
Does he have the coin or not ? what are the official Mtgox ADDRESSES
what is the balance of his Bank accounts
people who have lost their funds may as well start listening to me
So many legal wrongs here it is not funny,
Does he have the coin or not ? what are the official Mtgox ADDRESSES
what is the balance of his Bank accounts
The fact is no one, including you, knows the situation. The only fact is that Gox have claimed they believe they can restructure and become solvent again.
This may or may not be true, any statements of fact whether it is true or not here are not fact but supposition.
ok now the BS machine is in over drive
people who have lost their funds may as well start listening to me
So many legal wrongs here it is not funny,
Does he have the coin or not ? what are the official Mtgox ADDRESSES
what is the balance of his Bank accounts
people who have lost their funds may as well start listening to me
So many legal wrongs here it is not funny,
Does he have the coin or not ? what are the official Mtgox ADDRESSES
what is the balance of his Bank accounts
Gox have filed for protection from bankruptcy, not bankruptcy itself.
This is done when a company believes given time they can restructure and become solvent again.
Read the difference.
http://www.differencebetween.net/business/difference-between-bankruptcy-and-bankruptcy-protection/
This is done when a company believes given time they can restructure and become solvent again.
Read the difference.
http://www.differencebetween.net/business/difference-between-bankruptcy-and-bankruptcy-protection/
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