Topic: Mt.Gox files for U.S. Bankruptcy Protection (Read 656 times)
Good thing we have things in place to protect companies like this. Imagine if GOXXX or its employees lost money!
You're insane if you think getting Mt.Gox back up is a good thing.
Live by the Gox, die by the Gox.
Live by the Gox, die by the Gox.
It will just be another exchange doing the same shit next week. This happens to a big exchange every month or so.
Its a problem.
Maybe a community owned and run exchange may work if the right people are involved.
Because bluntly every dipshit so far has failed.
You're insane if you think getting Mt.Gox back up is a good thing.
Live by the Gox, die by the Gox.
Live by the Gox, die by the Gox.
IMO this is a good thing - as I would like to see Gox back up and creditors repaid without involving the "justice system". This increases the likelyhood of them getting back to business.
Well I guess it was only a matter of time.
"Mt.Gox officially filed for U.S. Chapter 15 bankruptcy protection. Although Mt.Gox has already filed for bankruptcy in Japan, the U.S. filing will allow for additional cross-border protections under international law. With an outstanding debt of ¥6.5 billion and missing 850,000 BTC belonging to users the world over, the move to protect Mt.Gox’s U.S. assets is not unexpected.
If the filing is approved, Mt.Gox could be granted “automatic stay” against creditors, preventing the seizure of U.S. assets. Such an approval would need to be granted by the presiding bankruptcy judge. Until the filing is approved, Mt.Gox assets are not under such protection. A hearing on the matter is expected within the next 30 days.
Assuming the filing is approved, Mt.Gox would then be able to safely conduct business in the U.S. without fear of seizures or other actions by creditors, allowing for the bankruptcy process to continue.
In an announcement on the Mt.Gox website last week, the company announced plans to restart the exchange, although it’s unclear to what extent."
Link:
http://www.bitcoinx.com/mt-gox-files-u-s-bankruptcy-protection/
cheers,
kev
"Mt.Gox officially filed for U.S. Chapter 15 bankruptcy protection. Although Mt.Gox has already filed for bankruptcy in Japan, the U.S. filing will allow for additional cross-border protections under international law. With an outstanding debt of ¥6.5 billion and missing 850,000 BTC belonging to users the world over, the move to protect Mt.Gox’s U.S. assets is not unexpected.
If the filing is approved, Mt.Gox could be granted “automatic stay” against creditors, preventing the seizure of U.S. assets. Such an approval would need to be granted by the presiding bankruptcy judge. Until the filing is approved, Mt.Gox assets are not under such protection. A hearing on the matter is expected within the next 30 days.
Assuming the filing is approved, Mt.Gox would then be able to safely conduct business in the U.S. without fear of seizures or other actions by creditors, allowing for the bankruptcy process to continue.
In an announcement on the Mt.Gox website last week, the company announced plans to restart the exchange, although it’s unclear to what extent."
Link:
http://www.bitcoinx.com/mt-gox-files-u-s-bankruptcy-protection/
cheers,
kev
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