The thing is I remember people saying that they are trying to return the coins as they are. I don't think that the market capitalization is high enough to liquidate all the coins. If they really liquidate everything there wouldn't be enough to pay back creditors.
Of course there won't be enough. Otherwise Mt. Gox wouldn't be bankrupt.The general idea is that the bankruptcy trustee accepts claims and adds them up. For this purpose, all claims are converted to yen as 1 Bitcoin = USD483 = JPY50,058.12, the exchange rates on the day the bankruptcy commenced. The claims are added up. Then the trustee adds up what they can get for all the assets that are left. Total claims / total assets yields the fraction at which claims will be paid.
You might be able to ask to be paid in Bitcoins, but if you get some Bitcoins, the conversion price will be as of the date of the distribution, not the date of the bankruptcy, so it won't matter.
For a sense of how this works in practice in the US, see http://www.madoffrecovery.com. Japan isn't as transparent, but takes basically the same approach.
If you get paid in bitcoins it makes it easier vs yen which you'd probably have to convert at your bank via a cheque in the mail? will read the site but im still confused on what option to pick.
kraken will pay the same as any other claim option true or false?
